Reis Chief Economis and Senior Vice President Victor Canalog, PhD, provides an analysis of market fundamentals in the apartment/multifamily sector for the fourth quarter and year of 2016. Some highlights from this video include:
- During 2016, vacancies declined by only 0.1%
- 200,000 New units came online
- Asking and effective rent both grew by 5.8%
- Concessions have made their way back into markets in the face of new competition
- The trends for the next 5 years are expected to be weaker than past 5 years for multifamily properties