The development of new apartments nationwide has been nothing if not brisk since the end of the recession, but it does have its ups and downs. In the first quarter, the delivery of new units was low enough that demand handily outstripped the new supply by about 8,500 units, driving down overall vacancies somewhat. In fact, the slightly more than 28,800 new units that came on line in Q1 2015 represented the lowest number since the first quarter of 2013, according to the first quarter apartment report by Reis Inc., which was published recently, as prepared by the company’s senior economist and director of research Ryan Severino.
Read more...Economy Watch: Apartment Absorption Outruns Construction | Multi-Housing News Online
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