February 2025 observations: Supported by favorable move-in and move-out levels, February weighted average occupancy increased 140 basis points year-over-year, from 77.9% in 2024 to 79.3% in 2025. Sequentially, February weighted average occupancy increased 10 basis points compared to January, reflecting a continued outperformance versus normal seasonality. 2025 first quarter-to-date weighted average occupancy of 79.2% represents a sequential occupancy change from the full 2024 fourth quarter that is significantly better than normal seasonality.
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