This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

MPF Research Reports Strong Demand And Accelerating Rent Growth In U.S. Apartment Market During Q2 2013

Stocks in this article: RP

A comeback in for-sale housing has not derailed the very strong performances posted over the past few years in the nation’s apartment sector, according to MPF Research, an industry-leading market intelligence division of RealPage, Inc. (NASDAQ: RP). Instead, second quarter apartment demand surged relative to last year’s level, and the annual rent growth pace accelerated once more, after having cooled a bit earlier. MPF Research analysts highlight the nation’s latest apartment demand and rent growth statistics as well as other key performance indicators in a discussion found at http://goo.gl/xa46e.

Demand for 88,524 apartments registered across the country’s 100 biggest markets in second quarter. That absorption tally, up 69 percent from the second quarter 2012 volume, well surpassed the 33,291 apartments in communities finished during the April-June time frame. “Some of the pent-up apartment demand from young adults who have been living at home with mom and dad or in other combined-household situations is being unleashed,” according to MPF Research vice president Greg Willett. “The number of new apartment renters entering the market exceeds those exiting to make home purchases.”

Demand running ahead of deliveries in second quarter took the national apartment occupancy rate to 95.3 percent, up from 94.9 percent in first quarter 2013 and 95.2 percent as of second quarter 2012. “While a slight uptick in occupancy during the second quarter is good news, the shifts recorded over the course of the past couple of years in large part reflect normal seasonality,” Willett said. “The big-picture story is that the apartment market has been essentially full since the middle of 2011, and that it’s continuing to remain full even as we add a significant number of new rental properties and cycle out some previous apartment residents to home purchase. We’re adding enough new households for all types of housing to experience momentum at the same time.”

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs