15.6% of stabilized apartments offered concessions in December, and the average December discount of 10.5% held essentially steady with October and November.
The October through December average sits at the highest discount depth since the post–Great Financial Crisis period (2010) and reflects ongoing efforts to absorb the elevated wave of new supply concentrated across the Sun Belt region.
Class A units posted the deepest concession discount at 11.0%, followed closely by Class B (10.2%) and Class C (10.5%) units. However, Class C properties continued to show the highest usage, with 19.1% offering a discount in December. Concession usage in Class A and B stock was comparatively milder at roughly 13% to 14%.
Source: RealPage
Multifamily Market News 