Multifamily Is Waking Up.
Apartment performance is improving as new data confirms a late-season boost to rent growth and demand, with stronger multifamily fundamentals compared to last year. Absorption has exceeded supply for 2 straight quarters, and in Q2, absorption was more than double apartment deliveries. Buyers and sellers, however, have not yet woken up from the past few years of slow and sluggish sales activity. While persistent elevated interest rates could generate some buying opportunities through increased distress, disciplined buyers who move now, ahead of the broader market’s recognition of the recovery, stand to capture assets at a cost basis that won’t be available once fundamentals fully reprice into valuations.
National YoY Rent Growth Average, June 2026*
0.45% ↑
* Based on data from RealPage, Zillow, Yardi Matrix, Apartment List, and CoStar
National Occupancy Average, June 2026*
93.55% ↓
* Based on data from RealPage, Yardi Matrix, Apartment List, and CoStar
3.62% ↓
3.64% –
The Apartment Market and the Economy
Annual Rent Growth Turns Positive for the First Time in Over a Year (RealPage)
Apartments Benefiting From Stronger Summer Leasing, Rising Ownership Costs (Marcus & Millichap)
New Supply Drives Occupancy Divide Across Apartment Markets (Trepp)
Multifamily Markets and Reports
Multifamily Capital Markets Report: Fundamentals Improve but Sales Still Sluggish (Colliers)
HUD Withholds Voucher Funding, Pushing Landlords, Tenants To The Brink (Bisnow)
Multifamily Developer Confidence Weakens in Second Quarter (NAHB)
Multifamily Vacancy Declines from Recent High (CoStar)
Multifamily and Housing Markets
Homes are selling below asking in 38 of the 50 biggest U.S. cities—if you can afford one (CNBC)
Less Room for Error – Why Recent-Vintage Multifamily CMBS Is Seasoning So Poorly (Trepp)
Hottest Zip Codes for Housing for Each State (Realtor.com)
CRE Markets and Lending Data
Capital Markets Report: Geopolitical Risks Persist, but Supply Growth Is Falling (CBRE)
Pricing Shows CRE Recovery Is Taking Shape Sector By Sector (GlobeSt)
CRE & CMBS Distress Report: Top 50 U.S. Metro Rankings and What’s Driving Them (CRED iQ)
The global real estate market size expanded after three years of contraction (MSCI)
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