It will take several quarters for multifamily demand to catch up to supply
- 1,745 units will deliver in 2022
- Occupancy rate is decreasing due to new deliveries each quarter
Multifamily demand kept pace with new deliveries last year. However, over the first three quarters of this year, there have been 708 units absorbed out of the 1,679 units delivered. Absorption peaked in the second quarter of last year.
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