Reis: Apartment Vacancy Rate unchanged in Q3 at 4.7%

Reis reported that the apartment vacancy rate was at 4.7% in Q3 2019, unchanged from 4.7% in Q2, and unchanged from 4.7% in Q3 2018. The vacancy rate peaked at 8.0% at the end of 2009, and bottomed at 4.1% in 2016. From economist Barbara Byrne Denham at Reis: The apartment vacancy rate was flat in the quarter at 4.7% . In the third quarter of 2018 it was also 4.7%. Overall vacancy has changed 0.3% in last two years. Both the national average asking rent and effective rent, which nets out landlord concessions, increased 0.8% in the third quarter. At $1,484 per unit (asking) and $1,413 per unit ......(read more)

Forward this article via email:  Send a copy of this story to someone you know that may want to read it.

from Around The Web https://ift.tt/2nmlWKX
via IFTTT