With 2022 coming to a close soon and Q4 about to end as well we can see how occupancy has compared to the all time highs of 2021.
Q3 2022 occupancy as compared to the Q3 2021 occupancy is
PSA: -1.3%
CUBE: -1.1%
EXR: -1.3%
LSI: -2.1%
NSA: -1.4%
Occupancy has decreased across the board from Q3 2021 when compared to Q3 2022, a sign that demand has decreased since the drivers for self storage brought on by COVID-19 have simmered down. While this is somewhat expected as COVID-19 had unprecedented conditions, it will be interesting to see if occupancy rates will increase YoY for Q4.
