Los Angeles’ multifamily market lost a bit of steam in the third quarter, but a bounceback might not be far off. Occupancy dipped 40 basis points year-over-year, while rents fell 0.2 percent from the previous quarter, the L.A. Business Journal reported, citing Colliers. Still, L.A. is a bright spot, outperforming nationwide trends. The city boasts 94.9 percent occupancy compared to the 93.2 percent across the country. The slight decrease in occupancy and rent prices stem from shifts in supply and demand rather than “fundamental issues,” Colliers senior executive vice president Kitty Wallace told the outlet. Wallace also cited slowing population […]
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