Apartment boom levels off, vacancies up

apartmentsBy Laura Kusisto | The Wall Street Journal

The apartment market boom of the past several years appears to be topping out, according to data set to be released Thursday by real-estate researcher Reis Inc.

Increasing supply sent the vacancy rate up to 4.3% in the third quarter from 4.2% in the second quarter, which matched the lowest since the recession.

With some 200,000 additional rental units expected to hit the market this year, economists expect higher vacancy rates in coming quarters.

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