Absorption is up over 33% between Q1 and Q2 while the vacancy rate is beginning to inch back down. Asking rates have begun to slowly trend up again from the lows of 2023 and the beginning of 2024. We are seeing that the construction pipeline has fallen 15%. After four quarters of total units under construction over 24K, the total units now under construction is now just over 21K. The net absorption data is up 6X, going from 1,140 in 2024 to 6,881 for YTD 2024. Deal activity has been robust from private investors while institutional is mainly still sitting on the sidelines. The underlying metrics are improving paving the way for a market recovery.