Todd discusses the state of commercial real estate, focusing on what is going on in multifamily, both nationwide and in several major metros across the US. In the first quarter of 2025, national apartment absorption outpaced new deliveries for the first time since 2021, with 102,000 units leased compared to 95,000 completed. Average national rents rose to $1,894/unit in Q1 2025, up from $1,866 in Q4 2024 and $1,823 a year earlier. 2025 is shaping up to be a year of transition, and keeping your pulse on the market is important.
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