U.S. Apartment Vacancies Fall to 2-Year Low
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U.S. apartment vacancies fell to a two-year low in the fourth quarter and rents rose, extending a market recovery that began in early 2010, property research firm Reis Inc. said.
The national apartment vacancy rate dropped to 6.6 percent from 8 percent a year earlier and from 7.1 percent in the third quarter, the New York-based company said in a report today. It was the lowest since 2008’s third quarter, when the rate was 6.2 percent, according to Reis.