Apartment rent growth ‘sluggish’ in Sarasota-Manatee


HERALD TRIBUNE (JULY 3, 2018) -Developers delivered 75,227 market-rate apartments across the country’s 150 largest metros during the second quarter, RealPage reported. The annual pace of completions now has slightly exceeded 300,000 units for four consecutive quarters, with the number of additions brought to market in the 12-month period ending at mid-year 2018 totaling 305,641 units.

“We’re at best only halfway through the period of peak deliveries,” said RealPage chief economist Greg Willett. “Ongoing construction of market-rate product totals just a hair under 400,000 market-rate units in the RealPage count, with annual deliveries set to stay right around 300,000 units through the middle of 2019.”

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