Trailing 12-month deliveries of 9,274 units outpaced absorption of 6,342 units, sustaining lease-up competition, though Boston maintains one of the highest occupancy levels in the nation at 95.1%.
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The construction pipeline is contracting: trailing 12-month starts have fallen 32% from one year ago, and the active pipeline has compressed 11%, signaling the market is moving past peak supply pressure.
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Average effective rents of $2,880 reflect a 0.2% annual decline, broadly in line with the national average.
