One bright spot in housing: apartments. The U.S. apartment vacancy rate was 6.6% in Q4,...


One bright spot in housing: apartments. The U.S. apartment vacancy rate was 6.6% in Q4, down from 7.1% in Q3 and 8% Y/Y, according to Reis. The vacancy rate for large apartment buildings bottomed a year ago, and the data indicates that excess housing inventory is being absorbed.
Comments (3)
  • hammering home
    , contributor
    Comments (4) | Send Message
     
    A thought. If people are being foreclosed on or are selling their homes because they cant afford them any more, they have to live some where so couldnt that be why apartment vacancies are down? If so, its not exactly a bright spot in housing, except for land lords of course.
    6 Jan 2011, 02:52 PM Reply Like
  • youngman442002
    , contributor
    Comments (5123) | Send Message
     
    they are leaving their foreclosed homes and moving into apartments..its not being absorbed
    6 Jan 2011, 03:11 PM Reply Like
  • kmi
    , contributor
    Comments (4527) | Send Message
     
    Just a side note from someone in the industry -

     

    TURNOVER is higher in apartments than I'm used to seeing, even though vacancy is down.

     

    Turnover = costs, just a fyi.
    6 Jan 2011, 03:15 PM Reply Like
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