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DALLAS—The US apartment market performance metrics for April show a mixed bag of results, says a report by RealPage. Survey results for 9.1 million multifamily units across the country show April’s occupancy rate at an average of 95.4%, drifting down a mild 20 basis points from the March result to a level that matches the performance from April 2019.

The more telling comparison point may be to go all the way back to the occupancy figure from mid-2008 prior to the Great Recession. Viewed from that perspective, April’s occupancy of 95.4% is encouraging, coming in 160 basis points over the mid-2008 reading. That occupancy premium provides some cushion for the decline that is to come. Furthermore, it may help landlords limit the magnitude of near-term rent cuts, at least to some degree, says the report.

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Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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