The nationwide occupancy of 95.1% in January may look lackluster compared to the cycle peak of 95.9% the nation recorded just five months previously in August 2018. But that’s actually the highest rate in any January since the current real estate cycle begin in 2010. Over the cycle, January occupancy has averaged 94.5%. In two past years – 2018 and 2016 – January occupancy came close to 2019’s rate, with rates of 95.0% in those years.
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