Apartment demand rebounded in 2023 after a dreadful year prior, especially during the second half of it, Cushman & Wakefield said.
Therefore, "apartment operators today are prioritizing occupancy over rent," its economist, Sam Tenanbaum said.
There are 800,000 apartment homes currently under construction, which is about 5% of the country's inventory, "so supply-side economics are expected to be a key theme for the next few years," he said.
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