Nearly 440,000 apartment units completed in 2023, and even more are scheduled to deliver in 2024, according to RealPage Market Analytics.
Job growth eased again in April, with many of the nation's top markets logging fewer annual gains.
Despite elevated apartment supply volumes, Philadelphia occupancy and rent growth remain in solid shape.
Multifamily permit volumes continued their downward trend in November.
Among the four geographic regions of the U.S., the Northeast experienced the strongest apartment rent growth in the past year.
Job growth remains solid on a national level, but some top markets are showing signs of slowing down.
After multifamily permits and starts ran close together for most of the year, paths diverged in August, as starts plunged.
The latest data from RealPage shows occupancy falling below the 95% mark in November.
U.S. apartment demand surged in 1st quarter, tallying more than double 4th quarter absorption volumes.
Developers are targeting office buildings for conversion, as vacancies rise in central business districts.