Multifamily Demand Outpaces New Construction Fast
Net absorption hit 188,200 units in Q2 2025, a record for second quarters.
Vacancy rate ↓ 70 bps to 4.1%, below 5.0% long-term avg.
Average rent ↑ 1.2% YoY to $2,228; first >1% growth in two years.
Investment volume ↑ 7.1% YoY to **$32.9B**; sector led CRE investment at 34%.
CBRE expects continued gains in 2025 and acceleration in 2026.
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