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20 Sep 2022

Where will Occupancy go in Q3?

James McLean

Union Realtime

Chart showing occupancy

With Q3 of 2022 ending soon, people are speculating on the industry performance this quarter. One strong indicator for the health of the industry is occupancy. The public REITs will release their occupancy numbers next month, but if interest over time in self storage is an indicator for how well self storage is doing, then we can expect another quarter of high occupancy.

Interest over time in self storage follows the industry patterns of increasing during the summer months and petering off during the end of the year.

In 2021, interest over time was lower in Q3 2021 than it was in Q2 of 2021, with occupancy numbers staying relatively the same.

With interest over time in self storage increasing from Q2 2022 to Q3 2022, do you think the occupancy rates reported in Q3 from the public REITs will be higher or lower than they were in Q2 2022?