In preparation for the multifamily quarterly feature in Real Estate Forum magazine, we sat down with many multifamily experts from around the country. On particular topic on the agenda was apartment vacancy and whether or not it will tick upward. While it is happening in some markets, there are dozens where the opposite is true, said sources. See the below commentary for more on the subject.
GlobeSt.com: A recent report we read said apartment vacancy continues to tick upward. Is that something you are seeing and can we expect that going forward? Do you expect a faster upward pace in the coming months? Why or why not?
Josh Dix, SVP in Trammell Crow Co.'s MidAtlantic Business Unit and National Practice: As you know, demand ebbs and flows, but strong fundamentals continue in most markets suggesting continued interest in multifamily/absorption. Vacancy has ticked upward slightly in some markets. It is something we expected to see in the short term as additional competition came on line in certain markets. In those markets, we do expect the vacancy uptick to moderate as new supply is absorbed.
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