The pipeline of multifamily projects in the D.C. region has come roaring back, with 66% more units expected to deliver over the next 12 months than what came to the market in the last year.
Those new deliveries will likely moderate rent growth once they hit the market, providing relief to renters after a year of record-high increases.
This past quarter, rents metro-wide surpassed pre-pandemic levels, according to a new report from Delta Associates. The growing supply of new, Class-A multifamily units may put downward pressure on the high rent growth the region has seen over the past year, said Will Rich, president of Transwestern-affiliated Delta.
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