April 16, 2024 8:31 am
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Apartment vacancies rise for first time in six years: Here’s why

Apartment vacancies

Apartment vacanciesBy Diana Olick | CNBC

Sky-high rents and falling vacancies have characterized the U.S. apartment market for the past six years, but that is suddenly changing. The share of apartments available for rent rose for the second straight quarter at the end of last year, the first time that has happened since 2009, according to real estate data firm Reis.

“This truly represents a turning point in the apartment market. With construction outpacing demand, the national vacancy rate should slowly drift higher over the coming years,” said Ryan Severino, senior economist and director of research at Reis.

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.