A commercial real estate services company is reporting seeing that landlords of multifamily property are seeing turnover fall to the lower levels in more than 20 years.
According to a report by CBRE, turnover, which is the percentage of total rented units that are not renewed each year, fell from 47.5 % in 2019 to 42.1 % in April. The report attributes the decline to historical trends that have been exacerbated due to the coronavirus pandemic.
Read more...Report: Turnover Drops to Levels Not Seen In Decades via GlobeSt
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