Valley apartment absorption will measure near to 400 units in 2012 and 800 units in 2013, said Hendricks & Partners, with only one new apartment community reaching lease-up this year. Southern Nevada apartment vacancies will tighten to 7.0% in 2012, driving rent growth due to economic gains and a tighter housing supply, as well as increased homeownership costs. The trend will accelerate in 2013, with average rent rising 1.2% in 2012 and by 1.8% in 2013. For the full report, CLICK HERE.Report: Apartment Rents to Increase in 2012
Valley apartment absorption will measure near to 400 units in 2012 and 800 units in 2013, said Hendricks & Partners, with only one new apartment community reaching lease-up this year. Southern Nevada apartment vacancies will tighten to 7.0% in 2012, driving rent growth due to economic gains and a tighter housing supply, as well as increased homeownership costs. The trend will accelerate in 2013, with average rent rising 1.2% in 2012 and by 1.8% in 2013. For the full report, CLICK HERE.
