METROPLEX APARTMENT VACANCY SINKS TO DECADE-LOW LEVEL

Rising job growth and limited new supply will continue to place downward pressure on apartment vacancy in the Metroplex, with the average rate forecast to end the year at its lowest level on record since late 2001. Tighter conditions will encourage owners to raise rents at a relatively healthy clip this year while cutting concessions further. The Class A sector will once again reap outsized rewards from the lull in completions, along with strong job creation in the professional and business services, and education and health services sectors. Class B/C operations also will improve, but to a lesser degree as expansion in lower-paying sectors, such as construction, leisure and hospitality and manufacturing, advances at a more moderate pace. While new supply-side pressures will remain minimal in the near term, the planning pipeline has begun to… Read more…
swell and permit issuance has risen in r

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