Building Market Intelligence

Earlier this month, our team attended the National Multifamily Housing Council’s annual apartment strategies conference in Las Vegas.

The gravitational forces of rising supply, economic uncertainty, and the return of seasonality have all pulled the apartment market back down to Earth.

Rents are set to fall in many areas around the country, which is exactly what the Fed needs to help get inflation under control.

Renters leased 700,000 additional apartments last year, more than doubling the five-year average. They also leased twice as many apartments in Q1 this year than in Q1 of last year, per our tabulation of RealPage data.