•Q4 2017 deliveries totaled 955 units, bringing the 2017 total to 4,147 units. Net absorption remained on pace with 3,901 units absorbed.

•Construction starts totaled 392 units in Q4 2017, down 66.1% from the trailing 12-month average of 651 starts per quarter. Construction costs have risen roughly 1.0% every month for the past 36-months, directly impacting projects from breaking ground.

•Class B rents in the Suburban Maryland Market outpaced Class A, growing 2.3% since Q4 2016. Mid and high-rise product were a major factor in this positive growth, as the specific segment of Class B grew 3.7% over the past year. Class A rents also grew at a healthy pace of 1.0% y-o-y.