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2019 Q2 Multifamily Ohio Report Colliers

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Multifamily Records Steady Growth

The U.S. multifamily sector continues to grow at an above average rate. As of the end of the second quarter of 2019, occupancy equaled 95.9% according to recent data from RealPage, the highest level since Q1 2001. Driving this 70 basis point (BPS) quarter-over-quarter gain was a strong spike in demand. During the second quarter, demand totaled 176,576 units, the highest quarterly total in nine years. This pushed the twelve month absorption total to 327,601 units. Annual new supply of 284,889 units, coupled with strong retention rates, drove occupancy higher. However, this slowdown in construction activity is expected to reverse over the next year with forecasts calling for nearly 360,000 units to be added to the inventory; 12% above this cycle’s peak in 2017.


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2019 Q2 Multifamily Ohio Report Colliers

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