Jan
06
U.S. Apartment Vacancies Climb as New Buildings Crowd the Market
By-
Empty units at recently built complexes push vacancies to 4.4%
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Leasing new projects takes `a lot longer,’ Reis economist says
U.S. apartment vacancies rose in the fourth quarter as a construction surge in pricier urban locations overshadowed rising demand for older properties in the suburbs, Reis Inc. said.
The national vacancy rate averaged 4.4 percent in the three months through December, up from 4.3 percent a year earlier and in the third quarter, the New York-based research company said Tuesday. Vacancies rose from the previous three months for a second straight quarter — the first time that’s happened since 2009…
U.S. Apartment Vacancies Climb as New Buildings Crowd the Market
