"Good Year" will be a relative term in 2009

The December issue of Multi-Housing News features a ranking of metro areas with the best apartment market conditions as we limp into 2009. At number six on the list is Raleigh, behind Washington, D.C., Denver, Minneapolis, Fort Worth and San Francisco. The statistics, provided by M/PF Yieldstar, are not predicting a banner year in the Triangle, but they suggest that Raleigh is an area that will weather the economic storm better than most. "Flat is pretty darn good this year-that can put a metro area in the top tier of all U.S. markets," according to Greg Willet of the Yieldstar research firm. Despite job losses and a growing shadow market, vacancies in the Triangle are expected to increase by less than one percent.