Multifamily Vacancy Compression Stalls in the Second Quarter

Multifamily Vacancy Compression Stalls in the Second Quarter

The national vacancy rate remained unchanged at 4.1 percent during the second quarter, a potentially worrisome result for those who fret about the near-term future of the apartment sector. As we explain in this column, this is not unexpected, and a moderation in the brisk pace of improvement in fundamentals has been built into our forecasts for some time.

Supply growth quickened, with more than 34,000 units coming on-line this quarter versus approximately 27,000 i

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