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Gainesville, FL - Several new developments are underway which will increase supply by more 6% in the coming year.
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Greensboro
Weak employment numbers coupled with new supply has pushed occupancy rates below 90%. Southwest Greensboro, High Point and Kernersville are fairing the best.
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Charleston
Demand has been strong over the last year. However, new construction starts reached its highest level in over ten years indicating that new supply may outpace demand in the coming year.
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Orlando
Weak demand caused by condominium re-conversions and the shadow rental market continue to pushed vacancy rates for conventional apartment higher.
Rent growth has been virtually flat over the last eighteen months.
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Richmond
Weak demand pushed vacancy rates higher.
Although development activity has been limited in the past year, new supply should begin to outpace demand in 2009.
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