Reis: Apartment Vacancy Rate increased in Q3 to 4.5%

Reis reported that the apartment vacancy rate was at 4.5% in Q3 2017, up from 4.4% in Q2, and up from 4.1% in Q3 2016.  This is the highest vacancy rate since Q4 2012 (although the increase has been small).  The vacancy rate peaked at 8.0% at the end of 2009. From Reis: The apartment market continued to withstand the pressure from added supply in the third quarter as the national vacancy rate increased only 10 basis points to 4.5% in the quarter . With so much construction underway, vacancy rates were thought to grow higher. More importantly, asking rents increased 1.0% in......(read more)

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