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Greensboro/Winston-Salem Apartment Vacancies at 8.3%, Highest Since 1999

GREENSBORO, NC-Supply is outracing demand in this booming Southeast commercial hub with 1,217 units under construction and an annual average net absorption of only 986 units. A total 636 units were rented in the first half.

By Roxanna Guilford-Blake | Updated on October 31, 2001

GREENSBORO, NC-Apartment vacancies in the growing Greensboro-Winston-Salem, NC market are at 8.3%, the highest since March 1999, and could rise to 9.1% by spring as supply outraces demand, according to Carolina Real Data Real Estate Information Services, a locally based industry researcher.

The company’s October analysis, published in the Greensboro/Winston-Salem Apartment Report, shows 1,217 apartment units are under construction and another 1,433 units are on the drawing boards. However, the absorption level has been dropping, totaling an average 986 units per year. The region absorbed 636 units in the last six months.

The 8.3% vacancy level is the second-highest since March 1999 when an 8.4% rate was recorded by the researchers.

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