Demand remains healthy with broad-based leasing across submarkets. Year-to-date absorption is strong and Q3 added another solid gain while deliveries paused, keeping occupancy in a stable mid-94% range.
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Pricing is constructive without overreach. Rents are growing faster than the national pace, and overall levels remain below national and regional peers, preserving an affordability edge that supports renewals and new-lease traction.
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Supply risk is manageable and localized. The active pipeline is modest relative to inventory and concentrated in core areas like Downtown, East Pittsburgh, and South Allegheny, while new completions were vastly outpaced by absorptions.
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MARKET OUTLOOK
Pittsburgh’s near-term setup points to already healthy market fundamentals with modest upside...
