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Portland State University鈥檚 Center for Real Estate provides in its second quarterly report this year further evidence that the local multifamily market continues to be marked by low vacancies and rising rents.

The analysis is one of seven that make up the center鈥檚 most recent quarterly real estate report. Other analyses include the state鈥檚 marijuana future, the state of the economy, and analyses of the office, industrial and retail markets.

Carly Harrison鈥檚 and Synkai Harrison鈥檚 study, Oregon鈥檚 Marijuana Future, looks at the recent experiences of Colorado and Washington legalizing recreational marijuana, and reviews how state and federal laws may impact the state鈥檚 real estate markets.

A residential market analysis by Clancy Terry reveals that residential markets saw an increase in transactions from last year, but experienced little movement in pricing and days on the market. Terry鈥檚 multifamily market analysis shows that like much of the rest of the country, Oregon鈥檚 multifamily market continues to see low vacancies and rising rents.

Synkai Harrison also wrote reports on the office and retail markets, which show that each is seeing low vacancy rates, higher rents and positive absorption. The industrial market remains strong, according to Harrison.

All the articles in the quarterly report are written by graduate students, but are reviewed by an advisory board of industry practitioners and experts, according to Eric Fruits, the editor of the quarterly report.

Fruits said the report on real estate potential attached to the medical marijuana market is one of the most comprehensive analyses he has seen about the topic.

鈥淚t looks at some of the legal aspects, the financing aspect and what we are really interested in 鈥� what are the real estate implications,鈥� he said.

While the analysis offers in-depth information, Fruits said there are still several questions that need to be resolved in the future.

鈥淚 think it鈥檚 going to be a big topic moving forward, especially when the (state) Legislature can鈥檛 firm up some of the rules,鈥� he said. 鈥淢arijuana is going to make headlines for the next year or two.鈥�

Fruits said there were no real surprises in the residential, retail and industry reports.

鈥淭here鈥檚 relatively slow growth in most markets while multifamily is still going gangbusters,鈥� he said.