Matrix Bulletin-Self Storage Forecast-Q4 2024 November 13, 2024

Self Storage Under-Construction Inventory Maintains Momentum

Despite a slowdown in new construction starts through mid-year 2024, the self storage under-construction pipeline increased on a year-over-year basis. The Q4 forecast update has therefore increased new supply for 2025 by 7.8%, and for 2026 by 6.0%. Yardi Matrix advertised rent and development pipeline data continue to suggest an overall deceleration in long-term self storage development interest.