Key findings include:
- Concessions are falling and occupancies and rents are rising across the nation.
- Among urban core counties, revenue per available square foot (“RevPAF”) has recovered the most in B and C product categories, the South, Midwest and in secondary and tertiary markets.
- RevPAF has recovered to pre-pandemic levels in Chicago and is on track to do so soon in Boston, Los Angeles and Washington, DC. San Francisco and New York still have a way to go but are turning the corner.