Reis Inc., a commercial real estate data provider, report that only 7,342 apartment units were completed in the 78 primary and secondary metro markets it covers during the first quarter 2012, the lowest figure recorded since the firm began publishing quarterly data in 1999. Due in part to low supply, apartment vacancy in the top metro markets declined to one of the lowest levels ever registered by the firm.
Read more...Multifamily Construction, Vacancy Rates Fall via NREIonline.com
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