"Absorption is far exceeding all of the new supply coming to market...in the second quarter of 2021 alone, net absorption of apartments in the Miami area surged to 10,028 apartment units even though just 4,855 new apartments were delivered in the same period." https://www.thenextmiami.com/new-miami-apartment-buildings-are-filling-up-as-fast-as-elevators-will-allow/