Market Updates & Recent Developments slide image

Market Updates & Recent Developments

Southwest Border Apprehensions Remain Elevated Apprehension rates along the United States Southwest border remains elevated-hitting 22-year highs during the summer of 2022 and further increasing in the first three months of fiscal year 2023 300K 250K 200K Title 42 expulsions, an emergency power granted to the Executive branch due to the pandemic, have allowed U.S. Customs and Border Protection to quickly remove all single adults apprehended 150K at the Southwest Border-reducing the near-term demand for detention beds On May 11, 2023, the Title 42 public health order officially ended, which has the potential to further increase activity at our Southwest border Encounter Count 100K 50K OK FY Southwest Land Border Encounters by Month 2023 (FYTD) -2022 2021 -2020 2019 Source: U.S. Customs and Border Protection - Southwest Border Migration Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Total 2023 (FYTD) 230,778 234,306 251,644 156,223 155,656 191,956 211,401 2022 1,431,964 164,837 174,845 179,253 154,874 166,010 222,574 235,785 241,136 207,834 200, 162 204,087 227,547 2,378,944 2021 71,929 72,113 73,994 78,414 101,099 173,277 178,795 180,597 189,034 213,593 209,840 192,001 1,734,686 2020 45,139 42,643 40,565 36,585 36,687 34,460 17,106 23,237 33,049 40,929 50,014 57,674 458,088 2019 60,781 62,469 60,794 58,317 76,545 103,731 109,415 144,116 104,311 81,777 62,707 52,546 977,509 19
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