Spring leasing season is here, and the multifamily market is starting to stabilize.

After reviewing recent REIT earnings, the industry is clearly shifting out of the supply shock phase. In 2025, the U.S. delivered over 547,000 units, but that wave is now fading as new construction starts drop sharply. Early 2026 data shows rents beginning to level out.

Performance is split. Coastal markets like San Francisco are seeing strong rent growth, while Sun Belt markets like Austin are still dealing with oversupply and declining rents.

In response, operators are focusing on retention. With mortgage payments still significantly higher than rent and turnover costing around $4,000 per unit, keeping residents has become the priority.

Most REITs are stabilizing and buying back stock, but one stands out. Aimco is liquidating its entire portfolio and returning capital to shareholders.

The takeaway is simple. Supply pressure is easing, location matters more than ever, and retention is driving performance.

Renting is no longer a stepping stone. In our latest episode of The Multifamily Review, we unpack new research on the rise of the "Deliberate Renter," why homeownership is losing its cultural pull, and the $4,000 cost of getting retention wrong in 2026. From the Upgrade Matrix to the Resident Disconnect, this is your roadmap for competing in a market where experience, not occupancy, drives performance.

Star ratings are no longer enough to win over today's renters. In this episode of The Multifamily Review, Marcus Armstrong explains how economic anxiety, review content, and AI-driven search behavior are creating the "Veto Effect" and reshaping leasing decisions in 2026. Discover why J Turner Research is redefining reputation measurement and what operators must do to stay competitive.

If you work in multifamily today—whether on-site or in the C-suite—you're feeling the pressure of the final and most intense phase of the supply wave. Elevated concessions, slowed rent growth, and fierce competition for residents are dominating the 2025 landscape. But while today feels heavy, the real story is already shifting beneath our feet.

The pipeline for new development has collapsed, with multifamily starts down more than 70% from their peaks and construction activity falling to levels not seen since 2012. High interest rates, insurance costs, and construction expenses didn't just slow development—they shut the factory down.

This sets the stage for a dramatic supply drought beginning in 2026. With completions projected to fall sharply over the next two years, analysts across CBRE, CoStar, Yardi Matrix and others agree: the shrinking pipeline will push rent growth back up as demand continues to outpace new supply. The operational pain of today is temporary—but your 2026 strategy needs to be built for a very different reality.

AI isn't here to replace property managers—it's here to make communication smarter and easier. In this episode of The Multifamily Review, Marcus Armstrong and Mya Hayhurst explore how the CRAFT method helps property managers use tools like ChatGPT to write review responses, resident emails, and social posts that are professional, personalized, and efficient. Tune in to learn how AI can save you time while keeping your voice authentic.

Forget what you think you know about property management. The real story isn't written in boardrooms; it's lived in the leasing office, where a single day can range from celebrating a team win to navigating a crisis that feels like a "war flashback." So what separates a thriving, energized team from one that's burning out?

On The Multifamily Review, we're getting real. Host Marcus Armstrong brings in coworker Kelley Lockaby to share candid stories and powerful lessons from her years on the front lines of multifamily. They explore the human side of the business, the relationships that forge unbreakable teams, the leadership actions that build unshakeable loyalty, and the emotional weight that onsite staff carry every day.

This isn't just another podcast. It's an inside look at the heart of your operations. Whether you're an executive trying to connect with your teams or an onsite professional who wants to feel seen, this episode is for you.

Listen now for a dose of reality, humor, and a new perspective on what it takes to build a winning on-site culture.

The key to the future of multifamily wasn't found at the slot machines in Vegas—it was on the stages and trade show floor of NAA Apartmentalize. If you're feeling the FOMO, don't worry. This podcast cuts through the hype to give you the essential insights that will define the next 12-24 months. Tune in to hear our breakdown of the biggest takeaways, from AI hacks that are changing operations to the surprising new focus on emotional intelligence in leadership. Plus, stick around for three bold predictions that might just change how you plan for the future. Don't get left behind. Watch now and get the insider scoop in under 30 minutes.

Is your social media strategy truly connecting, or just collecting dust? Marcus Armstrong is back on The Multifamily Review, armed with the groundbreaking new "From Clicks to Keys" report by J Turner Research! Get ready to dive deep into how social media is revolutionizing apartment searches and resident engagement across every generation. This isn't just about pretty pictures; it's about turning digital interactions into signed leases.