NATIONAL
RESEARCH Q3 2023 | REPORT CARD
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January 24, 2023
12:00 PM ET | 9:00 AM PT
2023
U.S. Forecast
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Up 60 bps YTD
Cap Rate
5.8%
Cap Rate
5.8%
Up 60 bps YTD
10 BPS
2023 FORECAST
Trailing
Cap Rate
up YTD
Employment
1.5%
Employment
1.5%
up YTD
0.7%
2023 FORECAST
exceeding
Employment
YTD
Absorption
184,906
UNITS
Absorption
YTD
403,189 UNITS
2023 FORECAST
184,906
UNITS
TRAILING
Absorption
Deliveries
320,632
UNITS
YTD
Deliveries
320,632
UNITS
YTD
565,166 units
2023 FORECAST
TRAILING
Deliveries
Down 60 bps YTD
Occupancy
94.6%
Occupancy
94.6%
DOWN 60 bps YTD
-70 bps
2023 FORECAST
TRAILING
Occupancy
Effective Rent
Up 2.3% YTD
$1,824
Effective Rent
$1,824
Up 2.3% YTD
3.3%
2023 FORECAST
TRAILING
Effective Rent
$1,824
Up 2.3% YTD
3.3%
2023 FORECAST
TRAILING
94.6%
DOWN 60 bps YTD
-70 BPS
2023 FORECAST
TRAILING
UNITS
YTD
565,166 UNITS
2023 FORECAST
TRAILING
YTD
403,189 UNITS
2023 FORECAST
184,906
UNITS
TRAILING
1.5%
up YTD
0.7%
2023 FORECAST
exceeding
5.8%
Up 60 bps YTD
10 BPS
2023 FORECAST
Trailing
320,632