08/20/2026
After several years of record multifamily developments, new apartment construction are projected to drop significantly. According to Apartments.com, approximately 695,000 multifamily units were delivered in 2024. That number dropped to about 531,000 in 2025 and is projected to fall roughly 382,000 units this year.
For developers and property owners, the slowdown is something worth watching. What gets built today can have a major impact on the rental market several years from now.
Less new supply could eventually mean stronger demand for existing apartments, improved occupancy, and increased pressure on rents -- especially considering the demand for housing continues to increase.
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