Posted Feb 25, 2022, 5:24 PM
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Registered User
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Join Date: Mar 2015
Posts: 2,838
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Vacancies are starting to rise, guys. I'm wondering if the machine is starting to sputter. From one of my instutitional investors:
"Since our previous report, delivered units and vacancy rates are up, while 12-month asking rent growth is down slightly. Overall, 12-month absorption was down almost 2,000 units—although it should be noted that during the current quarter, absorptions were up in Class A properties and down in Class B and C.
Once again, the overall vacancy rate rose slightly, from 5.3% to 5.6% since our previous report. Vacancies increased in all three property classes: Class A from 6.2% to 6.6%, Class B from 4.4% to 4.9% and Class C from 4.7% to 4.8%. 12-month absorption dropped for the fifth month in a row, falling below 10,000 at 9,459."
I find the statistics interesting when paired with the possibility of financial constraints coming from what's happening in Ukaraine. I truly wonder about the short-term future of apartment growth in the Valley.
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