Redfin Reports New Apartments Are Increasingly Likely to Get Snapped Up Quickly as Construction Slows

SEATTLE--(BUSINESS WIRE)--Roughly half (48%) of newly built apartments completed in the first quarter of 2025 were rented within three months, according to a new report from Redfin, the real estate brokerage powered by Rocket. That is up from 47% in the fourth quarter of 2024 and 46% the quarter before that. This is according to a Redfin analysis of the U.S. Census Bureau's seasonally adjusted absorption rate data for unfurnished, unsubsidized, privately financed rental apartments in buildings. ...