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October 17, 2016

M&M report sees 15,000 new apartments in 2016

By BRIAN MILLER
Journal staff reporter

Marcus & Millichap issued its third quarter report on the multifamily market and said that for the Seattle-Tacoma region almost 15,000 new apartments will be completed this year — “the largest addition to apartment inventory since 2000.”

M&M predicts a year-end vacancy rate of 3.9 percent and an average rent increase of 7.3 percent to $1,455 per month.


 
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