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The Spring 2016 Portland Apartment Construction Update
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Spring 2016 Portland Apartment Construction Update

Over the past few weeks, we wrapped up our Spring 2016 Apartment Construction Report.  Later in this email you'll find a brief summary of our findings.  The full report can be found at the link. 

Spring 2016 - Barry Apartment Construction Report
Construction Report Summary
  • Permits were issued for 6,657 new apartments units in 2015. This is nearly equal to 2014 when permits were issued for 6,799 units.
  • There has been a slight uptick of apartment construction in Clackamas County and in Multnomah County east of I-205.
  • Around 3,700 units were completed in the past 6 months throughout Multnomah, Washington, Clackamas, and Clark Counties
  • Absorption has remained strong. Vacancy rates remain low, though have increased slightly
  • The number of units in the pipeline stands at around 21,500. However, the project size is unknown at 55 of the 276 proposed projects. This will add at least 3,000 to the number of proposed units, but likely much more.
  • The current levels of construction are meeting new demand, but are failing to make up much ground on the regions low vacancy rates
  • An itemized list of every known project recently completed, under construction or proposed can be found on our website at the link above

If you're receiving this email, you've been added to our mailing list. The mailing list was compiled from those receiving hard copy versions of the newsletter in past years and those who signed up at our website. The mailing list will be utilized only a handful of times each year to provide market updates or to alert you to a new report that has been published. We hope to only provide information that you will find useful. If you'd like to be removed from the mailing list, either unsubscribe below or contact me directly (pb@barryapartmentreport.com). 

Regards,

Patrick Barry
Barry & Associates
971-275-5345
www.barryapartmentreport.com

Archived reports and newsletters are always available here

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