Reis reported that the apartment vacancy rate increased in Q3 to 4.2% from 4.1% in Q2. In Q3 2013 (a year ago), the vacancy rate was at 4.3%, and the rate peaked at 8.0% at the end of 2009.
Some comments from Reis Senior Economist Ryan Severino:
The national vacancy rate increased by 10 basis points to 4.2% during the third quarter. This is the first quarterly increase in vacancy since the fourth quarter of 2009.
Read more...Calculated Risk: Reis: Apartment Vacancy Rate increased in Q3 to 4.2%, First quarterly increase since 2009