• The Orange County multifamily market was dynamic for both development and demand in Q1 2018, with tight vacancy and rent growth.
  • The vacancy rate of 4.3% inched up 30 basis points (bps) from a year ago.
  • New deliveries reached a cyclical peak with 3,543 units completed for the year ending in Q1 2018, while net absorption totaled 2,705 units.
  • Rents reached $2,039 in Q1, up by 3.3% year over year.
  • Q1 2018 multifamily asset acquisitions totaled $403.8 million, reflecting a moderate year-over-year decrease. Cap rates remained at a near-low of 4.4% for the third quarter in a row.