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Multifamily Stabilization Weighed Down By Rising Concessions

Factors like move-ins improved in September, but the market is still seeing high concessions.

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The multifamily market is beginning to show signs of improvement and stabilization—but still has challenges ahead in certain areas, such as a rising level of concessions.

A new report from MRI Real Estate Software found that move-in numbers have improved, behind only 3% compared to last year as of September. On the other hand, concession volume is up 21% compared to last year, while concessions values are up 13%. Since April, concession values have increased 82%.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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