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Chart of The Week – October 23rd 2023

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Chart of The Week – October 23rd 2023

Chris Nebenzahl

Chris Nebenzahl

Average Monthly Concessions Per Unit

While fundamentals have slowed and concessions have been on the rise in most markets this year, it is important to look at average concessions in a longer-term context. Concessions have increased more than 50% from this time last year, however, the average national concession remains lower than it was from 2017-late 2021. Some markets with significant new supply are experiencing higher than average concessions, however the overall use of concessions is lower than the previous cycle.

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