North America Multifamily Market Report | Lee & Associates | Q2 2026

Market Overview

Demand for North American industrial space in the second quarter continued to recover from slowing caused by heightened trade uncertainties that
began early last year. But the improvement has been uneven. Canada’s strong year-to-date net absorption surpassed its total of the last two years.
Meanwhile, modest tenant expansion in the United States remains well off pre-Covid average growth. In the U.S., 44.4 million SF of net absorption in
the second quarter brought the mid-year total to 77.1 million SF, about 30% less than the pre-pandemic five-year average.

About Lee & Associates

Lee & Associates is a nationwide commercial real estate brokerage serving investors, owners, and occupiers across property types. Their Q1 2026 North America multifamily market report tracks absorption, completions, and rent growth to help clients optimize their portfolio decisions.

To read the full report, click here.

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