Search
 

Are Apartments Poised for Slowdown? Metrics Say Otherwise

CALABASAS, CA—A slight weakness in absorption and a bit too much construction made for a softer first quarter.  But it's only a snapshot of an otherwise continually strong multifamily market, says John Sebree of Marcus & Millichap.

By John Salustri | marcusmillichap | Updated on June 15, 2017
John Sebree

CALABASAS, CA— A slight weakness in absorption and a bit too much construction made for a softer first quarter.  But it’s only a snapshot of an otherwise continually strong multifamily market, says John Sebree, first VP and national director of the National Multi Housing Group (NMHG) at Marcus & Millichap. The NMHG recently released its Multifamily Spotlight, available by clicking here.

“The national apartment vacancy rate increased in the first quarter due to a combination of high class-A construction deliveries and traditional fourth-quarter absorption weakness being pushed into the first quarter,” notes Sebree.

In fact, Sebree highlights a negative absorption for the quarter of 11,000 units and 77,000 apartment deliveries for Q1. These combined to raise the national vacancy rate to 4.4%, up from the 4.2% from the same period last year.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.