| Apartment Market Updates |
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The region's overall occupancy rates continues to fall and is now below 89%. Most markets will continue to struggle through 2010. However, several markets inlcuding Orlando, Charleston and Raleigh may have seen the worst and are starting to recover. Richmond and Norfolk-Virginia Beach are outperforming most markets due to their limitations on development over the last several years.
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Charleston, SC
Real Data
09-30-2009
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Charleston hits all-time high for rental demand...
Charleston area reports highest absorption ever recorded over the last six months. Occupancy rates improved more than four percentage points after bottoming out in early 2009... Read More |
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Charlotte, NC Real Data
09-15-2009 |
Improving demand can't offset booming supply...
While a troubled economy and recent job losses have weakened demand over the past year, there were almost 4,000 new rental units completed over the same time period... Read More |
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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 |
| Regional News Updates |
Charlotte, NC
National Center for Healthy Housing
09-24-2009 |
Charlotte ranked #1 for healthy housing
According to The State of Healthy Housing, the metropolitan areas of
Charlotte
,
North Carolina
, Anaheim-Santa Ana,
California
, and
Atlanta
,
Georgia
, rank at the top of the list for having the healthiest housing. At the bottom of the list for having the least healthy housing are the metropolitan areas of
San Francisco
,
Oakland
, and
Los Angeles
,
California
, and
New York City
... Read More |
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08-16-2009 |
President shifts focus to renting, not owning
The Obama administration, in a major shift on housing policy, is abandoning George W. Bush’s vision of creating an “ownership society’’ and instead plans to pump $4.25 billion of economic stimulus money into creating tens of thousands of federally subsidized rental units in American cities.... Read More |
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Va.Beach, VA
The Virginian-Pilot
08-12-2009
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Laskin corridor could get $1.8M from Va. Beach
Developer Bruce Thompson could receive $1.8 million in city grants to help him transform the Laskin Road corridor near the Oceanfront into a restaurant and retail district with apartments and offices. ... Read More |
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National
Baltimore Sun
09-13-2009
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Renters by Choice
In a time of declining house values, rising foreclosures and uncertainty about jobs, many who may have jumped into the housing market in a better economy are content to rent instead.... Read More
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Winston-Salem, NC
Triad Business Journal
09-10-2009
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Wachovia to add 150 jobs in Triad
Wachovia plans to add about 150 jobs during the next two years to its 3,400-person employee base in the Triad as it works toward full integration with Wells Fargo, according to company officials.... Read More
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Hampton Roads, VA
the Virginian-Pilot
09-15-2009
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Hampton Roads jobs faring better than most in U.S.
Jobs in the region in the second quarter of 2009 slipped by 2.1 percent from the peak in 2007. That compared with an average decline of 3.8 percent in the 100 largest metro areas. Hampton Roads' unemployment rate of 7.4 percent during the quarter remained well below the 9.7 percent average for the 100 areas.... Read More
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07-16-2009 |
Apartments outperforming other real estate sectors...
According to National Association of Realtors research economist George Ratiu, while almost every type of commercial or income property has had a rough going in the past two years, "the (rental) apartment sector continues to maintain a stronger performance compared with other sectors." ... Read More |
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09-24-2009 |
New NC laws affecting rental housing providers...
The Apartment Association of North Carolina has prepared a brief synsopsis of the new laws which are most critical to rental housing operators in our North Carolina.... Read More |
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09-22-2009 |
Census Data: Housing is getting even less affordable...
More Americans found housing unaffordable last year, even though home prices across the U.S. have taken a major fall. More than 40 million spent 30% or more of their household income on housing costs, 600,000 more than in 2007, according to 2008 Census data released Monday. That includes homeowners with and without mortgages, as well as renters.... Read More |
Greenville,SC
GSA Business
09-29-2009 |
Greenville in top third for affordable housing...
Greenville’s home prices remain more affordable than in two-thirds of the cities in a national Coldwell Banker Home Price Comparison Index.... Read More |
