The third-quarter multifamily absorption level broke the record set last quarter and is the highest on record since tracking began in 2000, according to RealPage as reported by National Multifamily Housing Council.

This also marks the first time the trailing four-quarter sum has exceeded 500,000 units.

Net absorptions of investment-grade, market-rate apartments tracked by climbed to 268,331 in the third quarter—up from the already strong 218,763 units in 2Q 2021. 

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