Just Released 1st Quarter 2013 Leading Apartment Markets

LOS ANGELES - April 30, 2013 - PRLog -- “Currently the number of multifamily markets in the ‘Sell Phase”  is twenty-four, according to Eugene E. Vollucci, Director of CRES.  The number of multi-family markets in the "Buy Phase” is twenty.  Mr. Vollucci  said,” Most metro areas showed improvement on one or more economic or real estate indicators during the third quarter of 2012, including employment expansion in 38 of 58 metro areas (BLS), unemployment rate declines in 39 of 58 markets (BLS), office vacancy rate declines in 35 of 57 markets (CBRE), and housing price increases in 68 of 73 metro areas (FHFA)”.

Marcus  & Millichap reports  that the operational recovery across a variety of markets and all product tiers will drive investors to explore markets beyond core metros.  A solid understanding of the broader single-family and multifamily market dynamics and exit strategies is especially crucial for investing in riskier secondary and tertiary markets.

According to the Wall Street Journal Apartment rents continued to rise in the first quarter, but signs are mounting that landlords' leverage could be lessening as new supply floods the market and the single-family housing market heals.The nation's average monthly rent came in at $1,054, up 0.5% from the previous quarter and up 3.4% from the year-earlier period, marking the slowest growth rate since the end of 2011, according to a report to be released Wednesday by Reis Inc., a real-estate research firm. The national vacancy rate, which hit 8% in the aftermath of the financial crisis, fell to 4.3% from 4.5% in the fourth quarter.

ABOUT THE AUTHOR: Eugene E. Vollucci, is  the Director of The Center for Real Estate Studies, a real estate research association and author of "How to Buy and Sell Apartment Buildings" To purchase a subscription to Market Cycles and to learn more about the Center for Real Estate Studies, please visit our web site at   http:www.calstatecompanies.com