Charleston has moved past the peak of its supply surge, with Q3 deliveries plunging 82% quarter over quarter and the construction pipeline now at its smallest level since 2010. This shift positions the market for firmer fundamentals and reduced competitive pressure through 2026.
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Net absorption remains well above long-term norms, supported by strong in-migration and household formation. Class A and B demand continues to drive leasing activity, signaling resilient renter interest even amid broader economic caution.
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While effective rents have posted two consecutive quarters of decline, easing concessions and a sharply reduced supply pipeline are expected to return rent growth to positive territory by early-2026.
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MARKET OUTLOOK
Charleston enters 2026 with the effects of its historic supply wave largely in the rearview mirror...