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The Los Angeles apartment supply is trailing significantly behind demand. Experts continue to estimate that the market needs approximately 100,000 units in the next five years to reach equilibrium. The strong demand justifies new construction activity—and a substantial new construction pipeline—but demand is only growing and keeping up with growing demand has been challenging in Los Angeles.

“Development activity is being driven by strong demand for rental units,” Peter Belisle, southwest market director at JLL, tells GlobeSt.com. “The Los Angeles multifamily market isn’t overbuilt, and vacancy has remained persistently low despite developers stepping in to meet demand. Additional residential construction is justified throughout the L.A. basin as the market is not oversupplied and demand fundamentals are expected to remain strong.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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