Tag: multifamily
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Slight Decline in Raleigh Apartment Vacancy
Raleigh’s apartment market is experiencing a slight shift as vacancy rates decline for the first time in nearly three years. After reaching a record high of 12.6% earlier this year, the vacancy rate fell to 11.9% in the second quarter, indicating a continue surge in demand that outpaced new supply for the first time since…
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Raleigh Apartment Absorption
After dropping 9400 new apartment units onto the market in 2023 with another 8300 expected in 2024, Raleigh is having difficulty this year in absorbing the new units. This has led to flat or lowering rents. We are certainly seeing some apartments in downtown offering incentives such as one or more months of free rent.…