The CBRE | Hubbell Commercial Q2 2021 Multifamily report has been released. A strong spring leasing season paired with no new deliveries in Q1 resulted in positive net absorption of approximately 530 units in Q2, lowering all overall vacancy 150 bps to 5.3%.
"Slower market allows for rent growth and we’re already starting to see that in different pockets of the markets. We’re seeing good rent growth, primarily in Ankeny and suburbs," said Ryan Jensen, Senior Vice President for CBRE. "Rent growth isn’t just good for the developer, it's good for the market and the housing market too. Rent growth indicates strong fundamentals and that you’re not overbuilding."
Read the full report HERE.