Tuesday, August 13, 2019

Multifamily Continues to Rule CRE via GlobeSt

The multifamily sector showed the most robust growth amongst all CRE sectors—multifamily, office, industrial, retail and hotel—in the first quarter of 2019, according to Ten-X Commercial’s Multifamily Market Outlook.

The first quarter of 2019 marked the first time in five years there was a decline in the number of new rental properties coming to market, according to the report. This decrease helped the multifamily market vacancy rate hold steady in the upper-4% range, the level it’s been since Q3 2018. Yet these figures are relative as the actual number of vacant apartment units remains at its highest since mid-2012, Ten-X reported. As the number of new apartments begins to decline, those on the market will be rented faster.

Read more...Multifamily Continues to Rule CRE via GlobeSt

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