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Is The US Experiencing A Glut of Apartments?
The Real Estate Espresso Podcast
English - July 15, 2024 21:46 - 6 minutes - 4.16 MB - ★★★★★ - 124 ratingsBusiness investing realestateinvesting realestate cashflow entrepreneur business interview entrepreneurship apartments marketing Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
On today’s show we are talking about one more headwind that is facing the multifamily apartment market across the US.
2023 was a record year for new apartment completions. There were a total of 440,000 apartment completions in 2023 according to RealPage. Some other estimates put the number as high as 510,000 units.
There are several markets that are oversupplied as a result of this surge in building. Demand dropped once the pandemic was over and we have seen the mobility in the US drop significantly.
There are numerous hot markets that are experiencing a glut in new apartments.
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