Demand for apartments remains strong four years after the recovery began, even as construction activity has gradually been increasing. Not even the seasonal weakness normally observed during the fourth quarters of calendar years had much if any impact on the market dynamics.
Vacancy declined by 10 basis points during fourth quarter to 4.1%, in line with last quarter’s 10 basis point decrease. Over the last year the national vacancy rate fell by 50 basis points. The national vacancy rate now stands 390 basis points below the cyclical peak of 8.0%, recorded right after the recession ended in late 2009.
Read more...Q4 2013 Apartment Market Trends | ReisReports
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