Thursday, August 4, 2011

GlobeSt.com Reports "Apartments Shine as Beacon of Hope"

GlobeSt.Com is calling apartments a Beacon of Hope. "The nation’s apartment market continues to beat expectations as it speeds along to a full-scale recovery. Vacancy rates peaked in early 2010 at 8 percent and have since dropped to a healthy 5.9%. Effective rental rates have been moving upward for a year-and-a-half now, by 2.5% per year on average, and picking up pace to the 4% to5% range this year. Select markets are registering high single-digit rent growth."  Read more.