Based on current data, 2016 is not expected to be significantly different despite the elevated amount of new construction coming up. However, they expect a slowdown in the net absorption but it should remain steady for this year. Multifamily construction has been increasing rapidly especially over the past few years. Though it is predicted that we will have job growth, it is possible that supply may outpace demand in certain markets. Rent growth is expected to ease a bit but stay positive. The top 3 markets with the highest expected 2016 Employment Growth are Phoenix, Orlando and Las Vegas.
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