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Slowdown Continues in Self Storage Development Yardi Matrix development pipeline data continues to show an overall deceleration in self storage new construction momentum, and development interest remains weak for the longer term. Full-year 2024 construction starts fell 22% from the year prior, driving declines in both the under-construction and planned pipelines. The prospective pipeline continues to sharply decline, while the number of deferred projects remains elevated and abandoned projects grew in Q1.
Yardi Matrix development pipeline data continues to show an overall deceleration in self storage new construction momentum, and development interest remains weak for the longer term. Full-year 2024 construction starts fell 22% from the year prior, driving declines in both the under-construction and planned pipelines. The prospective pipeline continues to sharply decline, while the number of deferred projects remains elevated and abandoned projects grew in Q1.
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