Financial PerformanceKey performance indicators continue to lag peers with no improvement in both occupancy and average rent year-over-year.
Housing Market ChallengesNSA's more Sunbelt-oriented portfolio continues to see challenges around housing activity and supply in markets like Phoenix, Atlanta, and Florida where supply remains elevated and move-in demand is muted.
Market CompetitionCustomers have been more focused on price, challenging the ability to push street rates.