The survey of 38 leading real estate economists and analysts from across the United States was conducted by the new Urban Land Institute.
It projects broad improvements for the nation’s economy, real estate capital markets, real estate fundamentals and the housing industry through 2014.
Over the next three years:
Rents are expected to increase for all property types, with 2012 increases ranging from 0.8 percent for retail up to 5.0 percent for apartments.
The forecast predicts a modest increase in apartment vacancy rates, from 5 percent this year to 5.1 percent in 2013 to 5.3 percent in 2014; and a decrease in rental growth rates, with rents expected to grow by 5 percent this year, and then moderate to a growth rate of 4.0 percent for 2013 and 3.8 percent by 2014. This may be indicative of supply catching up with demand.
To read the full article, click here: American Apartment Owners Association’s Blog