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Absorption grows by 300% and deliveries expected to surge over 50%
Research - SEPTEMBER 14, 2023

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Absorption grows by 300% and deliveries expected to surge over 50%

by Andrea Zander

Absorption in multifamily during the first half 2023 surged to 98,429 units, with an increase of 83,449 units in second quarter — nearly quadrupling the absorption seen in the first half 2022, according to Newmark in its latest Multifamily Capital Markets Report.

With a record-breaking 198,806 units already delivered in the first half 2023, total deliveries in 2023 are expected to surge 51.1 percent year-over-year.

Multifamily expenses increased 8.3 percent year-over-year, led by a 28.6 percent surge in insurance costs. While insurance growth rose nearly 30 percent,

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