AvalonBay (AVB) Sees Like-Term Effective Rent Change Accelerating

AvalonBay Communities (AVB) recently announced a second-quarter 2024 operating update. The update highlights witnessing a stable physical occupancy and like-term effective rent change accelerating in May from the previous month. It also sees lease-up activities outperforming its expectations. Though turnover for same-store residential increased in May, it is still below historical levels.AvalonBay noted that in May, physical occupancy for its same-store residential portfolio was 95.5%, remaining unchanged f ...