| Apartment Market Updates |
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The region's overall occupancy rates continues to fall and is now below 90%. A few markets are starting to show some improvement but occupanies are low for almost all 19 markets that Real Data tracks. Richmond and Norfolk-Virginia Beach are outperforming most markets.
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Richmond, VA
Real Data
08-01-2009
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Developers focus on Tri-Cities Area...
Vacancy rates will rise as more than 3,000 units come online with the majority in the Tri-Cities area, but vacancies are expected to remain below 10%...
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Raleigh, NC
Real Data
08-01-2009 |
New Construction Pushes Vacancies Higher...
According to the latest report, vacancy rates are on the rise for apartments in the Triangle. Growing supply from new construction and weakened demand due to area job losses helped push the average vacancy rate to a five-year high of 10.4%... Read More |
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Savannah, GA
Real Data
08-15-2009 |
Development & Demand Increase...
New development is the most significant factor impacting the Savannah apartment market. The apartment supply increased considerably in the past year, which, despite strong demand, caused the vacancy rate to rise to 13.7% as of July, its highest rate in over five years... Read More |
| Regional News Updates |
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National
Wall Street Journal
07-05-2009 |
Vacancies Reach 22 Year High
The vacancy rate for U.S. apartments hit a 22-year high in the second quarter as rising unemployment reduced demand during what is usually the peak leasing season... Read More |
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Charlotte, NC
Charlotte Business Journal
07-13-2009 |
Research Park seeks $30M
Kannapolis officials are pursuing up to $30 million in interim financing to jump-start construction and infrastructure projects related to the NC Research Campus... Read More |
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Orlando, FL
Orlando Business Journal
07-13-2009
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$50M Apartment Deal on Hold
A luxury apartment project that had a ceremonial groundbreaking in downtown Orlando last fall is now on hold. The Montage, a $50 million, 183-unit high-rise being developed by a subsidiary of Atlanta-based Lane Co., is “paused for now” ... Read More |
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Raleigh,NC
Triangle Business Journal
06-22-2009
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Capstone buys Durham Apartments
University Apartments , a 114-unit apartment complex in Durham was sold for $3.5 million recently.... Read More
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Chattanooga,TN
Times Free Press
07-16-2009
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More than 500 working on Volkswagen plant
More than 500 workers are now building the Volkswagen assembly plant, on which nearly $436 million in contracts have been awarded to state and Chattanooga area firms so far, VW reported.... Read More
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Wilmington, NC
Triangle Business Journal
06-22-2009
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Hwy. 17 Bypass to Start Earlier than Expected
The long-awaited Brunswick County leg of the U.S. 17 Wilmington Bypass is getting a financial boost in the form of federal stimulus dollars.... Read More
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Columbia, SC
The State Newspaper
07-16-2009 |
Homes Compete with Apartments...
There’s an apartment glut locally as would-be home sellers rent their houses instead — and some tenants move back in with the folks... Read More |
National
National Apartment Association
06-22-2009 |
Freddie Mac Expands Securitization Pool...
A new Freddie Mac program brings needed liquidity and more affordable credit to apartment borrowers.... Read More |
Raleigh, NC
Triangle Business Journal
08-06-2009 |
Vacancies Reach 5 Year High...
The vacancy rate in the Triangle’s apartment market hit a five-year high of 10.4 percent in July, according to a report released .... Read More |
Virginia Beach
The Virginian-Pilot
08-16-2009 |
Apartment Tower Headed to Foreclosure...
A major insurer has scheduled a foreclosure auction on a nearly 60-year-old apartment tower at the Oceanfront.... Read More |
