Notwithstanding a wave of new units coming on line by the end of December, a new Axiometrics report shows that the pace of U.S. apartment development is moderating in the near term. The Dallas-based firm further noted that rent growth nationally moderated slightly during this year's July-through-September span. Researchers wrote: "Concern remains about which metropolitan statistical areas (MSAs) will become oversupplied due to new deliveries increasing more than demand or job growth. However, by the latter half of 2013, development of new apartment properties is expected to spread more broadly and to encompass a more generalized suburban sector."
Read more of today's Industry Insider.