Q3 multifamily annual demand hits 18-year high
- The U.S. multifamily market remains healthy, with strong levels of new supply and demand.
- In a reversal from recent years, demand is now outpacing new supply. The Q3 vacancy rate fell by 40 basis points year-over-year to 4.0%.
- Rent growth improved to an annual rate of 2.6%, up from 2.4% a year ago.
- Multifamily acquisitions totaled $48.3 billion in Q3 for a 14.2% year-over-year gain.