Matrix Bulletin-Self Storage Forecast-Q3 2024 August 13, 2024

Self Storage Development Continues to Decelerate

Yardi Matrix expects self storage new supply to contract over the longer term as interest in new development declines. Compared to last quarter’s update, the forecast has been increased for 2024 as well as later years, but that’s to account for our expanded market coverage, as the rate of change remains the same. In the past year, Yardi Matrix has initiated coverage for 17 new self storage markets that comprise approximately 4.5% of the current completed inventory in our database.