Demand continues to trail new supply, with Q2 absorption of 1,942 units falling short of 4,120 completions and well below long-term averages, signaling ongoing imbalance and softening fundamentals.
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Elevated construction levels have kept pressure on rent and occupancy metrics, though the pipeline is beginning to moderate, which could support firmer pricing ahead.
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Despite modest rent growth and a slight dip in occupancy, Boston remains one of the top-performing metros nationally, with stabilized occupancy of 95.7% and 2.0% annual rent growth.
