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Apartments' 'Busy Season' Goes Gangbusters Nationwide.

Most apartment leases in the U.S. are signed between April and September, and this year's prime leasing was even more robust than usual.

Demand volumes for the second and third quarters of 2018 totaled roughly 238,000 units nationwide, according to the recent RealPage Asset Optimization webcast. That's notably better than the average absorption of 214,000 units recorded for that six-month period each year during the current economic cycle, which started in early 2010. In the decade prior to 2010, the prime leasing season average was even more moderate at roughly 153,000 units, held down by a period of demand loss in 2001, during the dot-com crash.

Demand Leaders Recorded the Biggest Supply Volumes
(Q2 and Q3 2018)

Rank and Market                                   Demand  Supply

1 New York, White Plains. NY                      14,789   7,197
2 Dallas, Piano, Irving, TX                       14,608  11,091
3 Chicago, Naperville, Elgin, IL-IN-WI            10,966   4,902
4 Washington, Arlington, Alexandria, DC-VA-MD-WV  10,416   7,034
5 Denver, Aurora, Lakewood, CO                     8,345   6,022
6 Atlanta, Sandy Springs, Roswell, GA              8,176   4.605
7 Los Angeles, Long Beach, Glendale, CA            7,150   5,188
8 Newark, Jersey City. NJ-PA                       6,891   4,856
9 Austin, Round Rock, TX                           6,130   4,249
10 Phoenix, Mesa, Scottsdale, AZ                   5,847   4,765

--Kim O'Brien, RealPage

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Author:O'Brien, Kim
Date:Dec 1, 2018
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