•Deliveries totaled 1,018 units in Q4 2017, bringing the 2017 total to 3,750 units. Net absorption lagged slightly behind supply, as 3,296 units were absorbed throughout the year.

•There was a decrease in concessions offered throughout the year.  In Q4 2016, property managers offered a 3.2% discount, as a percentage of face rent. By the end of 2017, the concessions offered dropped to just 2.3%.

•Class A vacancy in Northern Virginia decreased significantly over the previous year.  In Q4 2016, the Class A vacancy rate stood at 4.9%, while ending 2017 at 3.8%.