CoStar Group Inc.'s Apartments.com has released its Multifamily Rent Growth Report for the second quarter of 2025, highlighting a national year-over-year asking rent growth of 0.9%, a slight decrease from 1.2% in the first quarter. This marks the first easing of rent growth since early 2024. Notably, Austin experienced the most significant rent decline at 4.3%, while San Francisco saw the strongest growth at 5.1%. The report indicates that absorption was primarily driven by luxury 4&5-Star units, though rent growth in this segment remained weak. National rent per unit rose to $1,773, with a stable vacancy rate of 8.2%. Despite a 21% quarterly increase in absorption, supply additions surpassed absorption, continuing a trend from late 2021, although future deliveries may slow due to a decline in construction starts. The report underscores differing market dynamics across regions, with the Midwest and Northeast markets performing strongly due to better-aligned supply and demand conditions.