Greater hiring this year continues to relieve pent up demand for rental housing and has contributed to a 60 basis point plunge in the national apartment vacancy rate to 4.4 percent in the second quarter. However, multifamily construction as a percent of all residential building remains near an all time high and shows no signs of abating. Accelerating deliveries of rentals will raise national apartment vacancy to 5.2 percent at year end. 20 basis points more than the year end 2013 level.
Posted on: Wed, 31 Dec 2014 00:24:39 +0000
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