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Chart of The Week – October 8th 2023

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Chart of The Week – October 8th 2023

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Chris Nebenzahl

We are excited to share with you the Chart of the Week!

Concessions are on the rise in most markets across the country. As the fourth quarter begins and traffic and leasing slow significantly, concessions will likely rise even further. Some markets have already seen huge concession increases. Miami, Austin and Las Vegas concessions have all more than doubled so far this year, led by Miami with a 239% year-to-date concession increase. Many of the markets leading the nation in rising concessions are those with major supply pressure, including Atlanta, Phoenix, Austin, Las Vegas, San Antonio and Salt Lake City.

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