As of August 2025, the multifamily market shows steady absorption at 506,000 units, with new completions down 18%. Vacancy is up…

As of August 2025, the multifamily market shows steady absorption at 506,000 units, with new completions down 18%. Vacancy is up to 8.2% and rent growth eased to 0.9% year-over-year. Class A has high vacancies but modest rent gains, Class B shows strong leasing but weak pricing, and Class C faces tenant losses but leads in rent gains.
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