Jacksonville Is Losing Its Rent Growth Momentum
Despite surprising performance stats in 2010, the pricing momentum in the Jacksonville apartment market is losing momentum. Greg Willett explains.
Despite surprising performance stats in 2010, the pricing momentum in the Jacksonville apartment market is losing momentum. Greg Willett explains.
Jacksonville’s apartment sector achieved some rent growth in the year-ending March 2011, but with occupancy in very weak shape, those increases appear unsustainable.
Recycling apartment sites certainly isn’t a new thing, but that pattern really just emerged during the most recent building cycle in Sun Belt locales across the Southeast and into Texas.
The U.S. apartment sector enjoyed such a strong year in 2010 that even the nation’s hardest-hit markets began shifting into recovery mode.