| APARTMENT MARKET CONDITIONS |
| Apartment market conditions are updated as: Rental rates – three times annually; sale activity – monthly; new construction currently in process – weekly; and construction starts during the past 30 day period – twice weekly. |
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| New Construction | |
| Properties Under Construction | | 42 | | Units Under Construction | | 12,859 | | Construction Starts, Last Thirty Days | | 3 | | Construction Completions, Last Thirty Days | | 1 | |
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| Rental Market | |
| Current Metropolitan Area Rental Rates | Low | High | Average | Studio
| $275 | $1,300 | $ 543 | | Three Bedroom/Two Bath | $635 | $2,793 | $1,087 | |
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| Twelve Month Sale Activity | |
| | Period | Change | | | 2006 | 2007 | Number | Percent | *Twelve Month Sale Activity
Sales reported are among properties 50 units and larger.
*Period = (Oct 2005 - Sept 2006) - (Oct 2006 - Sept 2007) | 251 | 189 | -62 | -24.7% | Sales Completed --
Most Recent Sixty Days (Properties - # of Units) | - | 7-1,440 | - | - | |
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