Report: Rents advance despite record apartment construction

Renter demand surged as steady job additions bolstered household formation, according to a report Marcus & Millichap. The significant wave of deliveries was largely absorbed on a macro level, but workforce housing vacancy rates tightened much more dramatically than Class A properties.

Renter demand surged as steady job additions bolstered household formation, according to a report Marcus & Millichap. The significant wave of deliveries was largely absorbed on a macro level, but workforce housing vacancy rates tightened much more dramatically than Class A properties.

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