The latest news of interest to multifamily owners of apartment buildings in Oregon and Washington.
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Monday, February 28, 2011
Nat'l. Association of Realtors Predicts Apartment Rent Increases of 3.4% this year 4.2% next
The National Association of Realtors announced last week that apartment rent increases are expected to accelerate as the result of job creation --leading to new household formation, particularly among the young adult population who will seek their own housing arrangements. NAR chief economist Lawrence Yun said "Many will be leaving their parents’ homes, or choose to live with fewer roommates.”
The NAR expects average apartment rent to grow 3.4 percent this year and another 4.2 percent in 2012. Click here to read more.