After a prolonged growth period following the Great Recession, the multifamily development cycle may finally be nearing its end.

This year is projected to be the first since 2011 in which fewer apartments will deliver than in the year before, according to a Yardi Matrix study as reported by RentCafe. After 317,872 apartment units delivered nationwide last year, 282,931 units are expected to come online by the end of 2018.

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