Apartment Rents On the Rise in Q3

Apartment rent rates remain very strong through the end of September nationwide posting a 2.9% increase year over year, according to industry experts. Household formations are predicted to jump 27% in 2019 to 1.53 million from 1.23 million in 2018. Though more housing stock is coming into the market, experts believe that strong demand from these household formations and population increases will absorb the new product. John Sebree of Marcus and Millichap says, "We are living in a very dull bliss. The fundamentals are very strong." Greg Willet, Chief Economist of RealPage Inc, a provider of property management software and service concurs, "The apartment market's performance during the 3rd qu

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