Post by Radix

The U.S. multifamily market held its ground to open June, with occupancy ticking up slightly on the week even as annual rent growth stayed in negative territory and leasing velocity continues to run behind last year. National occupancy reached 94.24% as of June 7, up 2 basis points week over week, while annual Net Effective Rent growth remained at -2.4% year over year. With leasing demand still catching up to supply, operators are holding occupancy steady but giving back on pricing to do it. U.S. Multifamily Stats for the week of June 7: Occupancy: 94.24% Annual NER growth: -2.4% RevPAU: $1,650 (-2.6% YoY) 📖 Read the latest report: https://lnkd.in/dUqvSfcQ 🎧 Listen to the podcast: https://lnkd.in/drDjTVfy