Apartment Supply Hits Level Not Seen Since 1980's

Apartment supply is at a historic level following a large delivery of completions in 2023. Supply hit a 36-year high, according to RealPage Analytics, with 440,000 units completed last year. However, completions are expected to decline following this year due to the drop in starts.

Supply and demand are directly related here in the Sun Belt and Mountain regions. The two regions combined for 62% of the new supply and 70% of the nation's demand. Meanwhile, the West was lagging at only 10% of the new units with 4% of the new demand.

READ MORE