Existing home sales reached an eight-month high last month, and a recent GlobeSt.com article raised anew the question of whether new supply is overtaking demand in the multifamily sector. However, four new reports, including one from Dallas-based Axiometrics, indicate that apartments’ reign is far from done.
Axiometrics reported on Tuesday that June’s concession rate of 0.78% was the lowest in at least five years, annualized effective rent growth of 3.6% was the highest since December 2012 and occupancy remained above 95% for the second month in a row. “In April, 2014 year-to-date effective rent growth just edged 2011 and 2012 to position itself as the strongest year of the recovery,” says Jay Denton, VP of research at Axiometrics. “The apartment market’s performance in the past two months has widened the gap.”
Read more...Single-Family Gains; Multifamily Reigns - Daily News Article - GlobeSt.com
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.