Cushman & Wakefield reported an excellent Q2 for its multifamily portfolio, with demand practically at a 20+ year high, occupancy expansion, above-benchmark renewal rates, concessions mostly burning off, and most lease-ups gaining 20+ leases per month.
The company, which entered Q3 operating 178,000 apartment homes, saw a noticeable uptick in the volume of applications during the second quarter, which performed third-best since 2000 other than the pandemic period.
"Thanks to increasing competition from new supply, the broader market is seeing occupancy contract," the firm said in a release. "[We] have not been immune in certain markets, but the strong interest levels have led to improving occupancy across the nation."
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