Vacancy Rates Drop

CNBC is reporting that vacancy rates have hit a 10-year low, which could be an indicator of future multifamily unit construction. The recent report put out by Reis Inc., a real estate research firm, shows that these vacancy levels haven’t been seen since the 3rd quarter of 2001.

So far, rental rates have remained relatively low compared to such low vacancy levels. Reis Inc does expect rents to raise approximately 3.3% in 2014 and vacancies to increase slightly.

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