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The U.S. Census Bureau's metropolitan statistical area (MSA) residential permit report for February 2014 reported a sharp increase in permits, primarily due to a surge in multifamily (MF) permitting.
In her February 27, 2014 statement to the United States Senate Banking Committee, recently confirmed Federal Reserve chairwoman Janet Yellen stated that the nation is “a lot closer to a normal economy than we’ve been in a long time.” This prompted a discussion item from Nevada Senator Dean Heller who asked if a persistently high unemployment rate of nine percent could be a new normal for Nevada. In response, Chairwoman Yellen surmised that “Nevada is one of the states that has been most badly affected” by the downturn, and that the state is still “some years” away from what might be considered a normal economy.
Annual effective rent growth at the national level has been moderating for the past two years and this trend continued in February. For the month, annual effective rent growth measured 2.8%, while occupancy increased to 94.3%.
With over 2.6 million apartment units updated each month, ALN Apartment Data is one of the most complete and accurate data provider available anywhere in the country. The Las Vegas Apartment Market Overview for February 2014 is now available to view.
Grooming new SuperStars is the easy part. The tough part is having a system to hire the best candidates today … who will be the leaders in your property management company, tomorrow. Follow the three steps in this article and the dream of having a powerful farm-team is just months away!
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