Nationally, the multifamily market performed well in the third quarter of 2017 with average occupancy for conventional properties rising 0.4% to 92.2%. However, compared to this time last year average occupancy is down 0.4% as new construction outpaced absorption in many markets. Effective rents are up 0.7% over three months ago to $1.39 per square foot and $1246 per unit. Compared to the end of Q3 2016, effective rents are up a healthy 6.1%, though some markets are seeing a slowdown in rent growth. Here a look at the different regions and how they fared in the quarter.
Read more...Q3 Multifamily Occupancy and Rents Review - ALN Apartment Data
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