Real Data
Apartment Market Update
June 7, 2013

Apartment Market Updates
Apartment Demand Strong Through First Quarter

Strong demand throughout the Southeast has allowed occupancy rates to recover and stabilize in spite of the uptick in development.  Nashville, Norfolk, Orlando, Raleigh and  Tampa Bay currently have occupancy rates above 94%.  All markets are above 89%.

Real Data

Tampa Bay occupancy  at seven year high...
The Tampa Bay apartment market continues to post strong demand which allowed the vacancy rate to reach its lowest rate in seven years at 5.9%.  Favorable conditions has also spurred rent growth...Read More.
Norfolk/ Virginia Beach
Real Data 
Demand is at an all time high in Norfolk...
Norfolk posted its strongest demand ever helping the vacancy rate reach 6% as of April.  The construction pipeline has revved up in response to high demand...Read More.

Real Data

Columbia posts strong rent growth...
The Columbia apartment market continues to post strong rent growth with annualized gains at 4.8% for the year.  Strong demand for apartments is driving this trend...Read More.
Regional News Updates
CoStar Group
Will building boom end the party for apartment investors?...
Apartments developers and investors likely can look forward to enjoying another year or two of high occupancy and pricing power in a strengthening economy.  But the music may stop in 2015 when the full brunt from the growing wave of new supply is expected to be felt... Read More

Tampa Bay
The Tampa Tribune 


New Complex approved for South Tampa Bay...
The A 212- unit apartment complex with 15,000 square feet of restaurant, retail and office space could be headed to a prominent section of S. Howard Avenue, the latest example of the area's apartment boom...Read More
Charlotte Business Journal
New apartments slated for Dilworth...
Crescent Communities has acquired a 2.3 acre Charlotte site at the intersection of East Morehead Street and Harding Place, where it plans to build a 300 unit apartment complex... Read More
Virginian Pilot 
Is the Hampton Roads apartment market overbuilt...
Late last year, the number of units under construction eclipsed 2,000 for the first time since 2005, according to Real Data...Read More
Piedmont Triad Apartment Association
Is Triad's slower growth a good thing...
Although the apartment market here in the Piedmont Triad has improved the market is still softer than the average throughout the rest of the country...Read More
The Greenville News
Re-developed Greenville community now open...
Davis Property Group is finalizing renovations to the former Crossroads Apartments on Cleveland Street - repositioning the property to match the growing demand for reasonably priced rental housing in the city...Read More
The Nashville Business Journal
Nashville's Music Row's Note 16 sells...
Music Row's Note 16 apartments community has sold for $15.6 million, according to Davidson County property records...Read More
The Orlando Sentinel
Apartments' price pushes $50 million...
A N.C., group purchased the Landmark at Universal Apartments on Vineland Road for $48.7 million, which is a new high for multifamily properties purchased in Orlando since the market peaked in 2007....Read More

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