Apartments.com Releases Multifamily Rent Growth Report for Third Quarter of 2024
CoStar Group, Inc. (CSGP)
Last costar group, inc. earnings: 4/28 04:02 pm
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Source: Business Wire
Quarterly data shows smallest gap between multifamily supply and demand since 2021 WASHINGTON--(BUSINESS WIRE)--Today, Apartments.com – an online marketplace of CoStar Group, Inc. (“CoStar”) – published an in-depth report of multifamily rent trends for the third quarter of 2024.This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241009007629/en/U.S. Apartment Rent Growth (Graphic: Business Wire)The U.S. multifamily market continued a strong rebound in demand during the third quarter of 2024, with 176,000 units absorbed, the highest number since the third quarter of 2021. This demand was just short of the 178,000 new units delivered in the last quarter, resulting in the smallest supply-demand gap in three years. Given the more balanced market, the vacancy rate fell 10 basis points to 7.8%, the first quarterly drop in vacancy since the end of 2021.The national average annual asking rent growth eased to 1.1% in September 2024 co
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