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Multifamily demand-supply gap narrows as deliveries slow

Quarter-over-quarter rent growth rose 0.3%, the first third-quarter increase in four years, according to Yardi Matrix data cited by Bisnow.

Reported · Written up by our desk · Residential

Bisnow reports that the U.S. multifamily market is starting to rebalance as the yearslong supply overhang tapers off, with the demand-supply gap narrowing to 13,000 units, the smallest level in more than a decade.

According to Yardi Matrix, quarter-over-quarter rent growth reached 0.3%, which Bisnow described as the first third-quarter increase in four years, while rents were up 1.4% across the first three quarters.

The outlet also pointed to Yardi Matrix analysis suggesting fundamentals are stabilizing as deliveries slow, market breadth improves, and occupancy remains resilient.

Bisnow said the strongest year-over-year results were in gateway and Midwest markets, led by San Francisco’s nearly 10% rent growth, while some Sun Belt metros still show softness as supply waves remain elevated.

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