Quarter 2 Atlanta Performance Highlights from MPF Research

Apartment demand in Atlanta really took off during the April-June time frame, when just over 8,100 units were absorbed. That quarterly blast took demand during the first half of the year to nearly 11,300 units, far surpassing the concurrent completion count of about 2,900 units. Thus, occupancy is starting to rise. However, the metro's June occupancy rate of 90.3 percent still ranked among the nation's weaker performances. Thanks mainly to a little bit of pricing momentum seen in the urban core neighborhoods, effective rents edged up by 0.4 percent during 2010's 2nd quarter, but annual change remained significantly negative at -3.8 percent. Dwindling new supply volumes will help Atlanta's near-term performance move toward recovery, as ongoing development is down to a total of fewer than 2,100 units.

Performance Highlights are sneak peek views of the latest apartment market performance information from MPF Research. Check out their Apartment Market Reports for detailed findings, including results on the neighborhood level and analysis of factors shaping the shifts in conditions.