Real Data
Apartment Market Update
February 19, 2013

Apartment Market Updates
Demand Spurring Development Throughout the Southeast

Demand continues well above historical levels throughout the southeast pushing down vacancy rates and spurring new construction throughout the southeast.  Asheville, Charlotte and Nashville have posted the strongest demand while Chattanooga, Norfolk-Virginia Beach and Tallahassee are regional laggards with demand at or below 0.5%. 

Real Data

Demand exceeds new supply in the Raleigh area...
Demand for apartments continues to be strong in the Raleigh area, with a vacancy rate of only 5.5%, the lowest rate recorded since 1998.  Construction starts are at an all time high as developers rush to meet demand...Read More.
Real Data 
Development surges in Richmond...
Richmond development activity has surged once again in response to lower vacancy rates.  The majority of new development is taking place in the downtown area... Read More

Real Data

Occupancy in Jacksonville is at a six year high...
The occupancy rate in Jacksonville is currently 90.3%, the first time it has breached 90% in six years. However, it may to be a short lived recovery due to the boon in new construction activity...Read More.
Regional News Updates
National Real Estate Investor
Too soon to worry about overbuilding...
The development pipeline is robust, market researchers at the at National Multi Housing Council’s annual meeting said that the sector remains in the clear.  While the pipeline in some markets is at worryingly high levels, the national supply is within normal levels.... Read More

Times Free Press                       


Chattanooga area housing market rebounds...
Total Chattanooga home sales in 2012 peaked above $1 billion for the first time since 2008, growing to $1.1 billion from $886 million the prior year, according to Realtors reports. Home inventory is at an 8-year low, and the number of rental households has climbed almost 25 percent in the last decade, straining current capacity...Read More
News & Record 
Greensboro’s first skyscraper gets makeover two...
The city’s first skyscraper will soon return to its original 1920s splendor as a high end apartment building... Read More
Times Dispatch
Apartments planned for the Central National Bank building...
The latest iteration of the historic Central National Bank building at Third and East Broad streets in downtown Richmond could be to turn the towering 23-story building into apartments...Read More
Greenville The Greenville News
Downtown apartment complex ready to go...
A downtown developer said he has obtained financing for a four-story apartment complex in Greenville at East McBee Avenue and Spring Street...Read More
Charlotte Observer
Childress Klein starting uptown apartment tower...
Childress Klein Properties is starting construction on its 22-story, 352-unit luxury apartment tower at the corner of South Mint Street and Martin Luther King Boulevard...Read More
Savannah Morning News
Drayton Tower revival...
Total Tenants moved into the first units in the refurbished tower Friday. The apartments on the top four floors of the 12-story glass-and-concrete building are move-in ready...Read More
Tampa Business Journal
St. Petersburg's Gateway area hot...
Developers plan to construct four apartment complexes with a total of 800 units in St. Petersburg’s Gateway area...Read More

Upcoming Real Data Market Reports

Chattanooga-February 15st
Myrtle Beach-February 25th
Nashville-March 5th
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