Apartment fundamentals are improving

06/16/2010 | Wall Street Journal, The

The multifamily sector is showing signs of having hit bottom two quarters ahead of expectations, according to Green Street Advisors. Lease rates have become positive, with 1% growth compared with a year earlier. Also, rents grew 2.8% from January to May, according to Axiometrics. There still is concern about the rate at which jobs are being added to the economy. Overall, though, public multifamily operators are optimistic about prospects.

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