Real Data
Apartment Market Update
March 30, 2013

Apartment Market Updates
New Development Affecting Occupancy Rates

Over the past year, new apartment construction has risen dramatically throughout the Southeast.  Those units are now hitting the market at an increasing rate causing a dip in overall occupancy levels, a trend that is expected to continue through the construction surge. Charleston, Raleigh, Charlotte and Nashville have projected supply growth above 4.0%. 

Real Data

Vacancy rates rise in the Charleston area...
The Charleston market experienced a lull this winter with demand suffering a seasonal downturn leading the vacancy rate to increase to 8.3%.  Development is at an all-time high, which will likely keep vacancy rates from recovering well into 2014...Read More.
Real Data 
Strong demand in Nashville...
Demand continues to be strong in the Nashville market, keeping the vacancy rate at a low 5% as of January.  New construction is at a thirteen year high and could have a major impact on occupancy rates in the upcoming months... Read More

Real Data

Development surges in the Charlotte area...
Development in the Charlotte metro is at its highest level since 2000 with the Southend and South Park areas poised for substantial growth. New supply has cause a modest increase in the vacancy rate, a trend that is expected to continue through 2014 as current construction comes online...Read More.
Regional News Updates
Richmond Times Dispatch
Richmond needs more affordable housing...
The Richmond region will need a greater supply of smaller, more moderately priced homes and apartments over the next 20 years as regional demographics change, a new study by George Mason University concludes... Read More


Nashville Business Journal


Cool Springs apartments to start this summer...
Crescent Resources announced it will begin construction on a 252-unit apartment project in Cool Springs this summer.  Cool Springs will sit on 13 acres at the intersection of Carothers Parkway and Resource Parkway near Interstate 65...Read More
Greenville News  
Greenville project falls through...
Plans to turn an historic mill in West Greenville into apartments have fallen through for the second time in four years... Read More
Norfolk/ Virginia Beach
Property Management Insider
Virginia Beach apartments lack momentum...
Virginia Beach has consistently ranked among the nation’s weaker apartment market performers during the past few years, and the metro wrapped 2012 with stats that again trailed the U.S. norm....Read More
Tallahassee Democrat
Luxury apartments planned for Tallahassee...
Construction will start this month at a 20-acre site on West Tennessee Street where Parkland Development Corp. is building a 782-bed luxury apartment community...Read More
Charlotte Business Journal
New apartments for Charlotte's NoDa neighborhood...
Real estate investment partnership, Gvest Partners, plans to break ground in the next couple of weeks on a $37 million, 342-unit apartment complex in the NoDa neighborhood...Read More
Tampa Bay Times
Tampa's Westchase neighborhood heating up...
After years of uncertainty, both builders and buyers are making moves again in the Westchase housing market.  Two recently built apartment communities are full, another complex is in the works and a new housing development is under way...Read More
Triangle Business Journal
Greensboro firm buys Raleigh apartments...
A partnership led by Hawthorne Residential Partners of Greensboro has acquired the Dunhill Trace apartment community off Glenwood Avenue in Raleigh for $23.1 million...Read More

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Greensboro/Winston Salem-April 20th
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