Radix compiled real-time data for the last 12 months on millions of units on its platform for the entire country. The firm recently revealed the top 21 markets to provide detailed insights on where the market has been and where it is trending.

The good news is that most operators got creative quickly and embraced virtual leasing and touring, which helped these leading indicators to gradually improve from the initial shock. There has been continuous improvement since then, at least from a country-wide perspective, though certain MSAs continue to struggle.

Current occupancy and leased percentage are higher than a year ago at national level, though markets vary widely. Net Effective Rent (NER) was on a gradual decline at national level from April to December. Some metros recorded solid performance and NER growth throughout the year, with Phoenix, Las Vegas and Riverside being the top three performing markets.