The 2012 Apartment Market: Can We Look Forward to Another Prosperous Year?

This past year was very strong for the apartment industry here in California as well as for most other parts of the U.S.   Our company’s portfolio of apartments, HOA’s and single-family-homes saw an increase in average rent; increase in occupancy levels; and a fair amount of new acquisitions.  Will 2012 continue to lead owners, investors and property managers in this positive growth direction?  Jay Parsons and Greg Willet of Property Management Insider most certainly agree that this year will be another successful year for the apartment industry.

In their video edition of Apartment Market Dynamics, Mr. Parsons and Mr. Willet discuss a set of forecasts that should make most of us in #multifamily smile:

In regards to national apartment occupancy levels:

  • Growth of up to half a percentage point
  • Look for growth in Class B and Class C properties
  • Top end market essentially full

National rent growth of 4 – 4.5%

What are your predictions for 2012?  Is multifamily entering into another prosperous year?  Happy new year to you all,   _Trevor