{"id":1004017644,"date":"2010-02-08T11:16:45","date_gmt":"2010-02-08T19:16:45","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004017644"},"modified":"2022-12-02T21:19:08","modified_gmt":"2022-12-03T05:19:08","slug":"national-apartment-report-sector-set-for-recovery","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/national-apartment-report-sector-set-for-recovery\/","title":{"rendered":"National Apartment Report: Sector Set for Recovery"},"content":{"rendered":"<p>February 8, 2010<br \/>\nBy Allison Landa, News Editor<\/p>\n<div id=\"attachment_1004017645\" style=\"width: 160px\" class=\"wp-caption alignright\"><a class=\"highslide\" href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/02\/Apartment.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004017645\" data-attachment-id=\"1004017645\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/national-apartment-report-sector-set-for-recovery\/apartment\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/02\/Apartment.jpg\" data-orig-size=\"500,333\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Apartment\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Courtesy Flickr Creative Commons user cliff1066tm&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/02\/Apartment.jpg?w=500\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/02\/Apartment.jpg\" alt=\"\" title=\"Apartment\" width=\"150\" height=\"150\" class=\"size-thumbnail wp-image-1004017645\" \/><\/a><p id=\"caption-attachment-1004017645\" class=\"wp-caption-text\">Courtesy Flickr Creative Commons user cliff1066tm<\/p><\/div>\n<p>The worst is over for the U.S. apartment market, according to Marcus and Millichap\u2019s 2010 National Apartment Report. <\/p>\n<p>A survey of 44 nationwide markets based on forecast supply and demand conditions, the report found that a drop in construction has set the stage for a recovery this year. Moreover, it found that vacancy will decrease to 7.8 percent, although asking rents are expected to decrease as well, falling 1.7 percent.<\/p>\n<p>Marcus and Millichap president and CEO Harvey Green and managing director of research services Hessam Nadji predicted a broadening of acquisitions players as well as better times to come.<\/p>\n<p>\u201cThis year, more foreign investors, REITs and institutions will join private investors, who dominated acquisitions last year,\u201d they wrote. \u201cExpectations for near-term weakness will be overshadowed by increased visibility on fundamentals, more reasonable cap rates and prospects for above-trend rent growth in the years to come.\u201d<\/p>\n<p>Driven by continuing government spending, Washington, D.C. was the top-rated market for the second year in a row. San Diego rose four places to number two, banked on expectations for an uptick in employment and household growth and resultant low vacancy and slightly rising rents.<\/p>\n<p>\u201cWith property performance expected to be steady throughout much of the metro, investment activity will likely pick up this year,\u201d regional manager of Marcus and Millichap\u2019s San Diego office Kent Williams said in a statement.<\/p>\n<p>Though many Midwestern markets continued to look good this year, they are expected to lag behind overall economic recovery. At number 20, Chicago fell nine spots from last year, and Cincinnati, Columbus, and Kansas City all fell eight spots from the previous year. <\/p>\n<p>Conversely, markets hard-hit by the housing bubble and recession have begun to climb. At position number 22, Seattle rose three spots, while at number 25, Miami was also up three spots. Phoenix, one of the most battered markets in the recession, came in at number 34, up seven spots from last year.  <\/p>\n<p>\u201cSoftening operating conditions contributed to stalled transaction activity through much of 2009, as buyers and lenders were unsure how far property fundamentals and NOIs would slip,\u201d Green and Nadji wrote. \u201cWith the economy entering a modest recovery and most performance measurements expected to stabilize in 2010, investors have more confidence in their forecasts and underwriting.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The worst is over for the U.S. apartment market, according to Marcus and Millichap\u2019s 2010 National Apartment Report. A survey of 44 nationwide markets based on forecast supply and demand conditions, the report found that a drop in construction has set the stage for a recovery this year. <\/p>\n","protected":false},"author":936,"featured_media":1004017645,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742],"tags":[],"class_list":["post-1004017644","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>National Apartment Report: Sector Set for Recovery - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/national-apartment-report-sector-set-for-recovery\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"National Apartment Report: Sector Set for Recovery\" \/>\n<meta property=\"og:description\" content=\"The worst is over for the U.S. apartment market, according to Marcus and Millichap\u2019s 2010 National Apartment Report. A survey of 44 nationwide markets based on forecast supply and demand conditions, the report found that a drop in construction has set the stage for a recovery this year.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/national-apartment-report-sector-set-for-recovery\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2010-02-08T19:16:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-03T05:19:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2010\/02\/Apartment.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"500\" \/>\n\t<meta property=\"og:image:height\" content=\"333\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Allison Landa\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/national-apartment-report-sector-set-for-recovery\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/national-apartment-report-sector-set-for-recovery\\\/\"},\"author\":{\"name\":\"Allison Landa\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/0eb45390ae3124c14a919b7ec7bd2249\"},\"headline\":\"National Apartment Report: Sector Set for Recovery\",\"datePublished\":\"2010-02-08T19:16:45+00:00\",\"dateModified\":\"2022-12-03T05:19:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/national-apartment-report-sector-set-for-recovery\\\/\"},\"wordCount\":397,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/national-apartment-report-sector-set-for-recovery\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2010\\\/02\\\/Apartment.jpg\",\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/national-apartment-report-sector-set-for-recovery\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/national-apartment-report-sector-set-for-recovery\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/national-apartment-report-sector-set-for-recovery\\\/\",\"name\":\"National Apartment Report: Sector Set for Recovery - 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