U.S. apartment demand surged in 2nd quarter, boosted by a handful of outperforming markets. The nation absorbed over 161,700 units in the April to June time frame, which was the best quarterly showing since the pandemic-era demand swell of 2021, according to data from RealPage Market Analytics. While all the nation’s 50 largest apartment markets logged at least some positive demand in the quarter, a handful of markets stood out. For the most part, these are markets that have witnessed the most new apartment deliveries during the latest building cycle. Dallas absorbed over 9,700 units during the April to June time frame, which was more than the annual demand volumes for 38 of the top 50 markets. Not surprisingly, Dallas also led the nation for annual absorption. Two other Texas markets – Austin and Houston – also logged nation-leading demand during 2nd quarter. Phoenix and New York rounded out the top five spots.
