via Jay Parsons on LinkedIN – Rental Housing Economist (Apartments, SFR), Speaker and Author

First look at newly released apartment market data for June: It’s a continuation of the April-May storyline. Lots of demand, stable vacancy rates, improving affordability (declining rent-to-income ratios) and yet … more cooling in rents.

Why? Because supply and demand is a real thing.

While peak completions are now in the rearview mirror, it takes some time to lease up a 40-year high in new supply. We’re still smack in the middle of peak lease-up competition.

Operators — even in moderate-supply markets — continue to prioritize protecting occupancy amidst supply plus broader macroeconomic uncertainty.

More to come tomorrow, including some markets bucking the trend plus a widening gulf between high-supplied markets and higher-supplied markets.

#apartments #multifamily #cre #incomeproducing

If you would like to know more about your market, visit www.jayparsons.com or if you would like some assistance with your property, visit www.DP-CRE.com (Dreznin Pappas Commercial Real Estate LLC )