Thursday, November 20, 2008

Apartment Investments Remain Sound As Apartments are Only Housing Sector Not Oversupplied

The Multi-Housing News recently published a story recently that provides further reassurance to apartment investors.

The apartment market remains healthy although rental demand is slowing, said Ron Witten, president of Witten Advisors LLC, speaking recently at the National Association of Home Builders’ (NAHB) Fall Construction Forecast Conference.

Witten said that apartment occupancy level has decreased by only half a point in the past 12 months, and is now at 95 percent on a national basis. Rent growth continues, but it has declined from 4 to 5 percent at its peak in 2006-07 to 2.3 percent in the second quarter this year.

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Witten Advisors LLC is a market advisory firm specializing in the major apartment markets across the United States. The firm's mission is to support apartment developers, investors, owners and lenders in making market-smart investment decisions in the ongoing course of their businesses.