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)

A Delightful, Pixar-Inspired Cartoon About the Toys in Your Cereal Box

The story of an action figure and his reluctant sidekick, who trek across a kitchen in search of treasure.


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

Juice Cleanses: The Worst Diet

A doctor tries the ever-popular Master Cleanse. Sort of.

Video

Why Did I Study Physics?

Using hand-drawn cartoons to explain an academic passion

Video

What If Emoji Lived Among Us?

A whimsical ad imagines what life would be like if emoji were real.

Video

Living Alone on a Sailboat

"If you think I'm a dirtbag, then you don't understand the lifestyle."

Feature

The Future of Iced Coffee

Are artisan businesses like Blue Bottle doomed to fail when they go mainstream?

Writers

Up
Down

More in Business

Just In