Apartment Demand Paces Elevated Construction

Posted on by Randolph Taylor

Apartment Demand Paces Elevated Construction

Elevated Development Slate Softening Apartment Vacancy; Late Recovery Metros Shine with Runway for Future Growth

 Underlying demand for apartments remains strong as a robust labor market and positive demographic trends support healthy unit absorption, despite mounting supply pressure. Moving forward, modest performance gains are expected on the national level as the market continues to digest the aggressive development pipeline.
 
■Job growth positive across the board, though tight labor conditions restrains further gains.
■Late recovery markets with manageable construction outlook consistently outperforming, particularly in the Class B and C segments.
■Cash-flow oriented buyers mixing up investment strategies in search of yield. Properties in first-ring suburbs or secondary/tertiary locations will be highly sought after.

 

– Marcus and Millichap Research Services

Marcus & Millichap is the Largest National Commercial Real Estate Brokerage firm specializing in Real Estate Investment Services with nearly 1,500 investment professionals in 80 offices nationwide. Marcus & Millichap closes 4.5 transactions every business hour more than any other real estate investment brokerage firm in the nation. In 2017, our Chicago offices closed 332 transactions totaling $1.45 Billion.

Randolph Taylor is a seasoned Commercial Real Estate Investment Sales Broker in the Marcus and Millichap Chicago-Oakbrook office and Associate with the National Multi Housing Group focused exclusively on the Listing and Sale of Multifamily Properties. Randolph has over 20 years of Commercial Real Estate experience with a broad knowledge of the Industry, financial analysis, marketing and negotiating skills to uniquely provide a superior level of service to his clients.

 

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