Multifamily's Uneven Recovery

Bell, John
April 2005
Mortgage Banking;Apr2005, Vol. 65 Issue 7, p86
The article reports that multifamily housing market is starting to recover following years of flat rent growth and rising vacancy rates. But the recovery is slow and by no means uniform across markets. Job growth drives the multifamily market more than any other factor, and signals have been mixed in that arena. The U.S. Bureau of Labor Statistics in March 2005 reported an increase in February hiring, to 262,000 new jobs. In addition to the improving job market, strong net in-migration and soaring home prices have put the San Diego market on track to register solid gains in sales, rents and occupancies, according to Marcus & MillicHap. INSET: SAN DIEGO.


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