Following an unprecedented wave of multifamily completions from 2023 through 2024, U.S. apartment construction is now cooling, according to RealPage data. The South and West — including Phoenix — led the building boom, but both regions are now seeing steady declines. Experts say the slowdown and rising vacancies are pressuring rent growth across several key markets.
Source: https://www.orionprop.com/topfive/apartment-construction-surge-levels-off-after-two-year-boom/
