Orange County Apartment Occupancy Poised for Dip
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Has Orange County’s apartment market reached the top of a roller coaster?
A study conducted by Laguna Hills-based Research Network Ltd. shows that occupancy rates are declining all over the county, with some areas dipping below 95% for the first time in the five years since the study has been conducted.
The survey points to continuing flat rental rates, increasing use of marketing incentives and what it called “an enormous volume” of construction activity as factors leading to its belief that the county’s apartment market may be headed for a downward ride.
“The county’s apartment market is nearing the saturation point and from now on, every new apartment unit will be occupied only if an existing apartment dweller moves into it,” the survey says.
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