Multifamily Alert: Rent + Occupancy Dropped on 2,447 Assets

[Stasiu Geleszinski]

I’ve been tracking multifamily assets that show signs of trading before they hit the market—looking for distress, softening rents, or ownership fatigue.

Pulled some numbers from our June run:

• 16,892 properties flagged as likely to sell

• 6,529 had declining rents over the last 6 months

• 5,940 saw year-over-year occupancy drop

• 2,447 had both rent and occupancy falling—usually a sign of real stress or upcoming movement

Top cities with high signal volume:

• Houston (669)

• Dallas (418)

• Austin (317)

• San Antonio (297)

• DC (246)

Some are long holds, but a surprising number are recent acquisitions under pressure—bridge maturity, tax flags, or just operators giving up on capex.

Not here to promote anything—just genuinely curious:

What early indicators are you using to spot deals before they’re listed?
Would love to trade ideas.

—Stash