Q2 marks highest quarterly & annual supply/demand levels in over 15 years
- The U.S. multifamily market has been extraordinarily dynamic over the past year, with the highest annual level of completions and net absorption ending in Q2 in more than 15 years.
- Although new supply outpaced demand, the Q2 vacancy rate inched up only 10 basis points year-over-year to a still reasonably healthy 4.7%.
- Rent growth averaged a moderate but positive 2% year-over-year, up slightly from Q2 2017.
- Multifamily asset acquisitions totaled $34.5 billion (including entity sales) in Q2, reflecting a 6.9% year-over-year decline. H1 2018 sales, however, are up 7.7% from a year ago.