U.S. Apartment Vacancies Down, Rent Prices Up in Q3

More

The housing market might be having trouble climbing out of its trough, but the rental market is steadily improving. Real estate research firm Reis Inc reports that the rate of vacancies nationwide fell to 7.2% in the third quarter from 7.8% in the second. But stronger apartment demand means higher rents. They ticked up by 0.5% during the quarter. Concessions are also tightening. Ilaina Jonas at Reuters explains the significance of the data:

This reverses last year's trend when many would-be tenants either moved in with their parents or took roommates.

The only other time Reis recorded a similar plunge in vacancies was in the third quarter of 2005, when owners converted rentals into condominiums during the housing boom.

Read the full story at Reuters.

Jump to comments
Presented by

Daniel Indiviglio was an associate editor at The Atlantic from 2009 through 2011. He is now the Washington, D.C.-based columnist for Reuters Breakingviews. He is also a 2011 Robert Novak Journalism Fellow through the Phillips Foundation. More

Indiviglio has also written for Forbes. Prior to becoming a journalist, he spent several years working as an investment banker and a consultant.
Get Today's Top Stories in Your Inbox (preview)

Tracing Sriracha's Origin to a Seaside Town in Thailand

Ever wonder how the wildly popular hot sauce got its name? It all started in Si Racha.


Elsewhere on the web

Join the Discussion

After you comment, click Post. If you’re not already logged in you will be asked to log in or register. blog comments powered by Disqus

Video

Where the Wild Things Go

A government facility outside of Denver houses more than a million products of the illegal wildlife trade, from tigers and bears to bald eagles.

Video

Adults Need Playtime Too

When was the last time you played your favorite childhood game?

Video

Is Wine Healthy?

James Hamblin prepares to impress his date with knowledge about the health benefits of wine.

Video

The World's Largest Balloon Festival

Nine days, more than 700 balloons, and a whole lot of hot air

Writers

Up
Down

More in Business

Just In