Reis: Apartment Vacancy Rate declined slightly to 4.6% in Q3, More Supply coming in 2013 via Calculated Risk

Reis reported that the apartment vacancy rate (82 markets) fell slightly to 4.6% in Q3, down from 4.7% in Q1 2012. The vacancy rate was at 5.6% in Q3 2011 and peaked at 8.0% at the end of 2009.

Some data and comments from economist Dr. Victor Calanog at Reis:
3Q Vacancy Rate: 4.6%, down 10 bps from second quarter’s 4.7%

3Q Absorption: 22,615, down from the second quarter’s 31,014 and the first quarter’s 36,423

3Q Completions: 13,531 units (similar to the second quarter’s figure of 13,370 units

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