Apartment Leasing Gains Momentum in May as Rent Growth Cools
Apartment leasing continues to accelerate following the big slowdown in the second half of 2022. Leasing momentum is returning as inflation – including rent growth – continues to moderate.
So far in 2023, apartment demand is nipping at the heels of mounting new supply levels. That’s in line with our expectations going into the year that leasing would improve as inflation cools a bit. But the bigger challenge awaits in the second half of 2023 and into 2024, when completions ascend to the highest level since the 1980s.