Despite slowing momentum over the past 2 years, U.S. student housing pre-leasing continues to increase at a normal pace for the Fall 2024 term and remains above pre-pandemic trends.
According to RealPage's June 2024 student housing update, 84.5% of beds at the 175 universities it tracks have been leased for Fall 2024. That compares with 85.8% leased at the same time last year and 86.2% 2 years ago.
Month-over-month pre-lease momentum climbed 6% from May to June, which was above average for the month as leasing activity tends to slow during the summer months when students are away from campus. Last year, the May-to-June increase in pre-leases was 5.5% by comparison.
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