Bibby: Demand is strong for apartment living

08/17/2011 | REIT.com

Rental rates for apartments can still increase, says Doug Bibby, president of the National Multi Housing Council. The market tightness index, which measures vacancies and rents, is 82. That, according to Bibby, means that 8 out of 10 markets are witnessing favorable conditions. Other reasons to be bullish about multifamily: There is little new supply coming to market, and demand for apartment living is growing.

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