Rent growth seems likely to regain momentum as early as spring 2024, when the normal seasonal upturn in leasing velocity should coincide with obvious signs that today’s new supply excess is temporary. Price increases should then prove robust during 2025.

There is less buyer/seller disconnect in the marketplace as the frequency of interest rate hikes and the size of those hikes have decreased

Operational costs for apartment companies grew by 8.6 percent on average year-over-year in the second quarter of 2023

Dollar volume of sale leaseback deals rose 8.3% to $5.1 billion in the second quarter over the first, while the transaction count remained in line with 165 versus 173 in comparing the same two quarters

Chicago had the 13th-highest number of new apartments completed in the last few years, adding 25,323 new apartments between 2020 and 2022.

Multifamily investors are learning how to navigate a new reality. The market is returning to standard seasonal patterns, thanks largely to the strong labor market and increased household formations, which is supporting positive rent growth and stabilizing occupancy rates.