Apartment vacancy has dropped from 13 percent to 8 percent over the last two years. It should continue to drop due to the limited new supply reaching the market, combined with accelerating job growth.
This is below the average for the last 25 years of 4,500 units per year.
I'm wondering if maybe now the metro Denver market has changed. There just seems to be more liquidity in the market.
It's becoming obvious to everybody that we're kind of at the bottom of the curve and that rental income is going to start climbing from here.
