Best Apartment Markets for Buyers, Sellers
The Center for Real Estate Studies (CRES), a non-profit organization based in Torrance, Calif., has released the Winter 2007 edition of 'Market Cycles,' its quarterly newsletter. The newsletter includes a report that indicated which U.S. apartment markets currently have the best acquisition and selling opportunities.
According to the report, Chicago; Columbia, S.C.; Jackson, Miss.; Madison, Wis.; and Roanoke, Va. are currently the top markets for real estate investors seeking acquisition opportunities in apartment buildings, while apartment building owners in Albuquerque, N.M.; Knoxville, Tenn.; Baltimore; Louisville, Ky.; and Shreveport, La. can enjoy the highest return by cashing in on their apartment properties now.
In addition, the report provides a sense of the state of the apartment building market across the nation. Overall, Vollucci said, the rental market appears poised for a strong year. Vacancies will continue to decline, allowing owners to raise rents and cut concessions, according to market data provided by other real estate research firms.