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Report: Apartment Market Improving in California Capitol

SACRAMENTO, CA-Strong in-migration, employment growth, rising single-family home prices and slowing construction activity are helping to strengthen demand for apartments. The improving fundamentals may have sparked a few investment sales last month.

By Brian K. Miller | Updated on September 13, 2005

(To read more on the multifamily market, click here.)

SACRAMENTO, CA-The apartment market here is being strengthened by strong in-migration, employment growth, rising single-family home prices and slowing construction activity, according to the latest report on the local apartment market by Marcus & Millichap Real Estate Investment Brokerage Co. The situation is allowing absorption the opportunity to gain slack on the supply side and improve vacancy, according to the report.

“Drawn by improving fundamentals and the metro’s striking growth profile, price appreciation and strong investor interest will continue through the remainder of the year,” predicts Robert Hicks, senior vice president and regional manager of M&M’s Sacramento office.

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