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Multifamily Sees Record-Breaking Absorption in Q4

In 2024, the multifamily market more than doubled its net absorption from last year.

By Kristen Smithberg | February 03, 2025 at 06:20 AM

Fourth-quarter multifamily net absorption reached record levels, closing the year with the absorption of 183,600 units, a 13% quarter-over-quarter increase and a 118% year-over-year increase, according to CBRE’s Q4 report of the asset class.

Annual net absorption stood at 530,600 units, which is more than double the 248,800 units absorbed in 2023. and only 14% less than the record set in 2021. Demand outpaced 114,000 new units by 61% in the fourth quarter and exceeded 451,000 new units by 18% for the year.

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