The number of new apartment units coming online in the United States is expected to decrease through 2027, according to the latest forecast from Yardi Matrix.

According to the Yardi Matrix fourth quarter multifamily supply forecast, the United States is expected to see 508,089 new apartment units in 2025. That is down from the predicted 554,288 units expected to deliver throughout 2024.

And the number of new units is expected to only decline further, with Yardi Matrix predicting just 371,509 new apartment units delivered in 2026 and 326,911 in 2027.

This trend is only expected to begin reversing in 2028, when Yardi Matrix estimates that the United States will see 404,559 new multifamily units. And in 2029, Yardi Matrix predicts that 426,485 new apartment units will deliver throughout the country.