Apartment Vacancy Rate unchanged in Q2 at 4.2%

Reis reported that the apartment vacancy rate was unchanged in Q2 2015, compared to Q1, at 4.2% - and also the same as in Q2 2014. The vacancy rate peaked at 8.0% at the end of 2009. A few comments from Reis Senior Economist and Director of Research Ryan Severino: Vacancy was unchanged at 4.2% during the quarter with construction and net absorption effectively in balance . Vacancy is cyclical and moves in long phases. For most of the last five years, the market has been in a vacancy compression phase, falling from 8% at the start of 2010 before bottoming out at 4.2% during the first quarter......(read more)

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