Over 2022 Multifamily Demand in San Antonio Turned Negative for the First Time in 30 Years

As the final month of 2022 came to a close it became apparent that apartment demand in San Antonio had decidedly changed course over the back half of the year. Net absorption — the change in units occupied over a given period of time — trended negative year over year, a rarity in a city known for its favorable long-term growth dynamics.