Santa's Bringing Positive Apartment Absorption
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|Credit crisis? Recession? Commercial real estate downturn? The Boston apartment market doesn?t want to hear it, according to Reis analyst Brad Doremus.|
|Boston's multifamily sector is chugging along as one of the nation's most resilient markets. Net absorption clocked in at a strong 1,546 units in Q3 '10, the highest quarterly statistic since Q3 ?08. Yet occupied stock steadily increased in every quarter during that time, with 5,994 total units absorbed from Q4 ?08 to Q3 '10. In fact, net absorption has been positive in all but two quarters since Q1 ?05, and only lost 254 units total between those two quarters. Also, the area's vacancy rate remained fairly steady over the past few years and fell substantially from July to September this year.|