CHARLOTTE, N.C., Jan. 25, 2006 -  Real Estate Investment Brokerage Company, the nation's largest real estate investment brokerage firm, recently released its National Apartment Research Report for 2006, which indicates the Charlotte apartment market will benefit from healthy employment growth, fueling renter demand.

Also included in the report is the firm's annual National Apartment Index (NAI), a snapshot analysis that ranks 42 apartment markets based on a series of 12-month forward-looking supply and demand indicators. Charlotte holds its position at No. 34 this year.

"Charlotte's apartment market is beginning to show strength amid a vigorous rebound in the local economy and continued population growth," comments Gary R. Lucas, managing director of and regional manager of the Charlotte office. "Increased hiring in the financial sector will likely result in a spike in demand for Class A units in the Downtown submarket, and luxury apartments in the upscale residential areas of Fairview North also will benefit from the addition of new high-paying jobs this year."

Following are some of the most significant aspects of the Charlotte Apartment Research Report:

• Asking rents will increase 1.5 percent to $761 per month in 2006.
  
  Owners will reduce incentives at an accelerated pace, with effective rents forecast to rise 3.5 percent to $678 per month.
   

• The vacancy rate will decline 40 basis points during 2006 to 9.2 percent.
  
  Much of the improvement in occupancy will be in and around downtown Charlotte, as more residents are drawn to the urban lifestyle.
   

• Local employers will add 24,000 jobs in 2006, a 3 percent increase.
  
  The majority of these positions will be added in the professional and business services sector, which will help boost demand for luxury apartments.
   

• Developers in Charlotte will deliver 1,500 units in 2006, down slightly from 1,660 apartment units last year.
  
  New multi-family construction is mainly concentrated in the fast-growing Harris Boulevard/Mallard Creek Church Road submarket.
   

• Investment activity in Charlotte will increase this year, especially in submarkets where tenant demand is starting to rebound.
  
  Class B/C properties in the Gaston County and North Tryon Street submarkets are being targeted by investors who are responding to rapidly improving market fundamentals in the area.