Apr
04
Rising U.S. Apartment Vacancies Lead to Slowing Growth in Rents
By-
Effective rents rose 4.5% last quarter, down from 5% growth
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Builders finish 200,142 units in past year, most since 1988
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…
Rising U.S. Apartment Vacancies Lead to Slowing Growth in Rents
