The report, issued by Marcus and Millichap of Southfield, MI,says that leadership in the multi-family market is moving fromclass A to class Band C properties, while established class Acomplexes face competition from home ownership andnewly constructedproperties, which offer larger units and morecomprehensive amenitypackages.
Apartment completions dropped 33% in 1999, but are expectedtoincrease by 10% in 2000. Average vacancy dropped by about 1% inthe last year to 2.9%.
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