Apartment Demand Remains Strong as Rates Continue to Climb

• Absorption dropped to 857 units for the quarter, but the market absorbed nearly 7,000 units in 2019.
• The overall average rental rate increased to $1,593, a 2.7% year-over-year.
• The average sale price/unit increased to $256,380/unit, a 6.9%increase over the 4th quarter of 2018.
• The Metro Denver vacancy rate increased by 30 basis points during the quarter to 5.3%.