| 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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| Rental Market | |
Current Metropolitan Area Rental Rates 01/2009
| Low | High | Average | One Bedroom
| $395 | $2,026 | $ 666 | | Two Bedroom/Two Bath | $550 | $3,114 | $ 878
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| Twelve Month Sale Activity | |
| | Period | Change | | | 2008 | 2009 | Number | Percent | *Twelve Month Sale Activity
Sales reported are among properties 50 units and larger.
*Period = (Feb2007 - Jan2008) - (Feb2008 - Jan2009) | 144
| 26
| -118 | -81.9% | Sales Completed --
Most Recent Sixty Days (Properties - # of Units) | - | 11-2,395 | - | - | |
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| New Construction on 02/06/2009 | |
| Properties Under Construction | | 39
| | Units Under Construction | | 10,634 | Construction Starts, Last Thirty Days (subscribers)
| | | Construction Completions, Last Thirty Days (subscribers)
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