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Analysis

Elevated Apartment Supply Won't Bottom Out Until 2026

But data from individual metros show that the decline in new apartment supply has already begun in some markets

Predictions by some experts that the nation’s current oversupply of apartments will decline by the end of 2024 are not supported by a new analysis from Yardi Matrix.

Instead, Yardi proclaimed, “the under-construction pipeline is robust, and elevated deliveries are anticipated for 2024 and 2025.” In all, 766,353 units are still scheduled for completion by as late as early 2026. That is a 9.9% quarter-over-quarter and 36.6% year-over-year increase. In addition, 483,207 units were in lease-up in Q1 2024 — for a total of 1.25 million units under way.

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Philippa Maister

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