The U.S. apartment vacancy rate was unchanged in the second quarter, the first time in two years that the vacancy rate failed to tighten, in a sign that a wave of new properties may be easing market conditions, according to real estate research firm Reis Inc.
The national vacancy rate was 4.3 percent, unchanged from the prior quarter though down from 4.8 percent a year earlier, according to preliminary figures Reis released on Monday. The vacancy rate is 3.70 percentage points below the cyclical peak of 8.0 percent at the end of 2009.
Read more...U.S. apartment vacancy rate flat in second quarter, but rents rise | Reuters
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