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Local Apartment Absorption Highest in U.S., Researcher Says

ATLANTA-Spurred by rent cuts and concessions, Atlanta's apartment market realized solid demand during the April-June quarter for the first time since summer 2000, according to a study released this week by Dallas-based M/PF Research. Monthly rents average $800 a unit.

By Marita Thomas | Updated on July 15, 2002

ATLANTA-Atlanta’s occupied apartment count jumped by 5,570 units during second-quarter 2002. Greg Willett, director of research products at Dallas-based M/PF Research, calls the performance a “striking comeback.”

In a new study, Willett says metro Atlanta ranks as the national number one market for apartment absorption during the April-June period.

Even though area employment remains well below levels of a year ago, job gains are registering this year, according to Willett. He says an improving economy is “the biggest factor spurring increased leasing activity,” and adds that rent cuts and concessions also helped boost demand.

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