Market Insights | National | Mid-Year 2025

Market Overview

By mid-2025, the U.S. multifamily sector is showing clear signs of recovery following a prolonged oversupply period. National vacancy has reversed course, falling to 8.2 percent in Q2 2025—the first sustained decline in over three years. This improvement is being driven by surging demand—especially in Class 4 and 5 assets—and a significant slowdown in new construction completions. While rent growth remains modest at 1.0 percent year-over-year, it is expected to pick up as vacancies tighten and new supply recedes. Investor sentiment is cautiously optimistic as sales volumes rebound, pricing stabilizes, and fundamentals begin to align toward sustained momentum into 2026.

About GREA

Global Real Estate Advisors (GREA) is a commercial real estate advisory organization offering investment sales and capital services across the United States. Their Market Insights deliver timely macro-level trends on multifamily fundamentals—including vacancy, rent growth, absorption, and investment volume—to inform decision-making by institutional investors, developers, and asset managers.

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