ATLANTA—There's no overbuilding on the multifamily front in Atlanta—at least not yet. The multifamily sector is still performing strong even with new developments that are at least partially satiating the hunger for apartments, especially in Atlanta.
A recent CBRE Research report reveals that over the past several quarters, the national demographic of those seeking multifamily rental opportunities has diversified, pushing the overall nationwide apartment vacancy to 4.8% and the home ownership rate to 63.4%--its lowest level since 1967.
The CBRE report also finds that national rent growth has reached its strongest year-over-year gain in nine years. That marks the highest historical multifamily four-quarter investment by the end of the first quarter in 2015.
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