Albuquerque Journal (Albuquerque, NM)

Labor influx is filling apartments.

Byline: Diane Velasco Journal Staff Writer

* Occupancy rate in the city is at its highest in years, but some say market is softer than reported

An influx of construction workers and a slowdown in building, coupled with stable rental rates, have helped Albuquerque's apartment occupancy rate climb to its highest level since 1995.

A report by the Apartment Association of New Mexico shows the average occupancy rate hit 93.9 percent by Sept. 30.

The report was based on a survey of 25,645 of the 63,537 multi-family units in the city.

New units built during 2000 totaled 98, the fewest since 56 were built in 1992. The slowdown offsets the aggressive building of 6,238 units between 1994 and 1997, causing declining occupancy rates that hit bottom in March 1999 at 88. …

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