CLEVLAND, OH — Despite near-term weakness within the local employment market, minimal supply-side pressure and softer for-sale housing conditions will moderate losses in Cleveland apartment occupancy levels and rents, according to a third-quarter Apartment Research Report by Marcus & Millichap, the nation’s largest real estate investment services firm.Ongoing changes within the auto industry will drive additional job cuts, with manufacturing employment expected to reach the lowest level this decade by year end.
“Activity within the Cleveland investment market continues to slow as a result of buyers’ expectations for softer market conditions in the near term,” says Michael Glass, (top left photo) regional manager of the Cleveland office of Marcus & Millichap.
For a complete copy of the company's news release, please contact Stacey Corso, Communications Department, (925) 953-1716, stacey.corso@marcusmillichap.com
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