Apartment market 'firing on all cylinders'

Survey: Occupancy rates, rents rising in most markets

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The apartment market in the third quarter remained solidly in the expansion phase of the real estate cycle, albeit at a slower pace than in the second quarter, according to the National Multi Housing Council’s (NMHC) October 2006 Quarterly Survey of Apartment Market Conditions.

“Demand for apartment residences continues to rise, and should remain strong so long as employment keeps rising,” said Mark Obrinsky, NMHC’s chief economist.