Marcus & Millichap Releases 2009 Q3 Local Apartment Research Reports

Marcus & Millichap recently released the 2009 Q3 Local Apartment Research Reports.  These reports are available on the Jackman Group website by clicking here.

Marcus & Millichap's Research Services department offers a complete range of publications, from national economic perspectives to property type-specific analyses at the market level. These are available from The Jackman Group upon request.

To give you an example of our research capabilities, we have posted our latest local apartment research reports here. Local research reports cover economic, construction, vacancy and rent trends, along with property type-specific investment trends in many markets.
The local research reports listed below are for multifamily apartments, but we also publish them for retail and office properties as well. The local research reports are updated throughout the year, usually quarterly, providing a steady stream of specific metro- and submarket-level data.

They are available in the following markets:

Atlanta Austin Brooklyn Charlotte Chicago Cincinnati Cleveland Columbus Dallas-Fort Worth Denver Detroit Fort Lauderdale Houston Indianapolis Jacksonville Kansas City Las Vegas Los Angeles Manhattan Miami-Dade County Milwaukee Minneapolis-St Paul

New Haven New Jersey Oakland Orange County Orlando Philadelphia Phoenix Portland Riverside-San Bernardino Sacramento Salt Lake City San Antonio San Diego San Francisco San Jose Seattle St Louis Tampa Tucson Washington DC West Palm Beach

First Signs that Market is Beginning to Turn Are Appearing

The first signs have appeared that suggest things are starting to get better for the apartment industry, said Greg Willett, vice president of research and analysis for MPF Research, in a National Apartment Association (NAA) Conference and Exposition session entitled “U.S. Apartment Market Outlook.”

As Willett noted, the supply picture is the simplest to envision. Completions are slowing; since 2006, quarterly completions averaged about 50,000 units. However, by the last half of 2009, MPF Research predicts that this figure will be reduced to about 30,000 units. And by 2010, only about 20,000 units are predicted to be delivered each quarter.

Only some metros currently have any significant amount of product under construction, noted Willett, with Austin having about a 5 percent stock growth based on units under construction, as of April 2009. Charlotte, N.C., Dallas, Las Vegas, San Antonio, Houston, Phoenix, Seattle, Denver and Raleigh, N.C. also are expected to continue to deliver units through the end of 2009. Only Dallas is slated to add anything significant after the end of this year.

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