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Apartments Benefiting From Stronger
Summer Leasing, Rising Ownership Costs
Rental leasing gains momentum. Improving spring employment supported resilient household formation in the second quarter of 2026. Nearly 190,000 households were created during the period — more than the prior two quarters combined, but below the 2015- 2019 average of roughly 240,000. This supported apartment net absorption, helping lower the national vacancy rate by 60 basis points to 4.5 percent.