Big demand, tight occupancy, and accelerating rent growth. MPF Research has lots of good news to share today as it announced highlights for the apartment market’s performance in the second quarter of 2013.
Demand Running Ahead of Deliveries
The market absorbed 88,524 apartment units across the country’s 100 biggest markets in second quarter. That absorption tally, up 69 percent from the second quarter 2012 volume, well surpassed the 33,291 apartments in communities finished during the April-June time frame.
Apartment Market Occupancy Averages 95.3%
With demand running ahead of deliveries in second quarter, the national apartment occupancy rate rose to 95.3 percent, up from 94.9 percent in first quarter 2013 and 95.2 percent as of second quarter 2012.
Read more...U.S. Apartment Market Posts Strong Demand and Rent Growth for Q2 2013 | Property Management Insider
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