Rising U.S. Apartment Vacancies Lead to Slowing Growth in Rents via Bloomberg

U.S. apartment vacancies climbed in the first quarter as a flood of newly built units hit the market, slowing the rate of rent increases.

Effective rents, or what tenants pay after landlord concessions, rose 4.5 percent in the first quarter from a year earlier, down from 5 percent growth at the end of 2015, Reis Inc. said. The vacancy rate climbed to 4.5 percent from 4.4 percent in the previous quarter and a low of 4.2 percent a year earlier, according to the real estate research firm.

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