The U.S. apartment vacancy rate fell to 4.5% in Q4 from 4.7% in Q3, and 5.2% a year ago,...

|By:, SA News Editor

The U.S. apartment vacancy rate fell to 4.5% in Q4 from 4.7% in Q3, and 5.2% a year ago, according to Reis. Rents increased 0.6% from Q3. Even with apartment completions expected to "accelerate substantially" in 2013, the market should remain tight, says Reis, expecting a continued decline in the vacancy rate.