As the metro area continues creating jobs and attracting population, the demand for housing continues increasing. According to Marcus & Millichap Real Estate Investment Services' Q3 2013 Apartment Research Market Report, new units coming online aren't making a dent in demand.
The report notes that 9,250 units will be delivered in 2013 -- a 77% increase from 2012 – and area-wide vacancy will top out at 7.9%. This vacancy rate, incidentally, is an increase of 40 basis points from the year before.
Other interesting vacancy statistics from the report were that:
Read more...Vacancy Tight in Apartment Market - Daily News Article - GlobeSt.com
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