Apartment Demand Paces Accelerating Development
Third Quarter 2014 National Apartment Market Outlook
Marcus & Millichap Real Estate Services/strong>
Demand Keeps Pace with Accelerating Apartment Development…
Steady employment growth has supported apartment performance nationwide. Over the last year, vacancies have held steady on a national level, though individual markets have naturally faced some variance. The tight rental market has spurred rent gains in all major metros and demand is forecast to remain steady. Construction is ramping-up, however, which will lead to risks of vacancy increases in select markets, but investors remain attracted to the long-term prospects of multifamily assets.