A record number of apartments were absorbed in Q1.

Surging by nearly 104,000, that blows away the average of 12,500 recorded in that time frame over the past 30 years, Marcus & Millichap reported.

"With traditionally strong spring and summer months still to come, should put net absorption on track to reach a three-year high, barring any unexpected setbacks," the report said.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.