DALLAS—There's one apartment sector which doesn't appear to be raising concerns about overbuilding in some markets, but that's no reflection on demand. That sector is student housing, where locally based Axiometrics notes that the metrics remain strong even as new supply deliveries for this year will be off compared to the previous one.

With the spring semester in full swing—even if spring-like weather is weeks away for much of the US—Axiometrics says same-store occupancy for existing off-campus properties averaged 95.8% in January. That's up 180 basis points from the average 94% seen in January 2014.

The average same-store prelease was 34.0% last month, in line with last year's pace and also more than twice as high as November '14. Properties are leasing a nationwide average of 48 beds per month, when average beds leased from November to December and December to January are factored in.

REIT properties have outperformed the national average so far this leasing season: properties owned by student housing REITs were 42.8% preleased in January, compared with 30.2% for properties not owned by investment trusts. Axiometrics notes, though, that about 20% of the non-REIT properties didn't start leasing until December, and several others still hadn't begun leasing as of January. With the gap between REIT and non-REIT properties wider in January than it was in the two previous months, these factors could go a long way in accounting for the difference in prelease rates between the two classes of facilities.

Axiometrics says nearly 48,000 new beds are expected to come to market by August, some 23% less than the almost 63,000 that were completed this past fall. Even so, the expected 2015 deliveries are in line with the totals from 2008 and 2012.

Some 73 universities have been identified as receiving new supply this fall. Of those, only 15 are delivering more than 900 beds, led by Louisiana State University with nearly 2,400 scheduled to deliver for the fall semester.

Furthermore, while the new bed count is projected to drop this year, so is the number of universities with new off-campus supply. In fact, Axiometrics says, the 73 universities that anticipate delivery of new student housing inventory this fall are fewer than the 82 schools that received new beds in 2013 and the 94 that did so las year.

Also of note is that the new supply is being delivered to different universities. About 30% of the schools getting new beds this year haven't received any new supply in the past four years, Axiometrics says.

At a time when most universities will have begun their summer break, the RealShare Conference Series will  offer investors an opportunity to take an in-depth look at the market. RealShare Student Housing has just been announced for June 3 and 4 at the Four Seasons in Las Vegas. Further information on registration and speakers will be provided on GlobeSt.com as it becomes available.