(Actual executed rents continue to trend ahead of list/effective asking rents sourced from websites and phone calls.) The data is sourced from millions of units on actual rent rolls running on the RealPage platform.įederal unemployment benefits have no doubt buoyed apartment performance this summer. That differs from survey-based occupancy rates, which show slight declines in part due to the impact of properties completing lease-up.Įxecuted rents for both new leases and renewal leases remains roughly on par with last year’s numbers. As a result, occupancy rates in the stabilized same-store dataset held steady. Total new lease signing volumes climbed 5.7% compared to the same time last year.Īt the same time, retention rates remained high.
Both measures came in roughly on par with June results. Traffic to property websites jumped 3.7% year-over-year. Guest cards – the key measure of prospects indicating interest in an apartment unit – were up 14.9% in July 2020 compared to the same time last year in a same-store set of market-rate, professionally managed properties nationally. While conditions vary greatly by market, most apartments are in solid shape entering the crucial month of August, with an outlook muddied by stalled negotiations on Capitol Hill. Apartment leasing continued at a brisk pace in July, keeping occupancy rates steady and holding rents flat.
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