by Calculated Risk on 12/11/2010 11:51:00 AM
Saturday, December 11, 2010
Several Stories: Apartment vacancy rates falling
The trend of falling vacancy rates continues ...
From Eric Wolff at the North County Times: Rental vacancy rates fall as people lose homes
Vacancy rates for North San Diego County apartments fell 1.2 percentage points to 4.3 percent in the fall, the fourth straight drop, according to the biannual survey conducted by the San Diego County Apartment Association.From Josh Brown at the Virginian-Pilot: Rents rise, vacancies drop for apartments in Hampton Roads
... and landlords took the opportunity to raise rents 0.8 percent ... The report attributed the drop in vacancy to the ongoing foreclosure crisis, as people evicted from homes need somewhere to live, and to a modest increase in employment.
Rough times in the housing market may be boosting demand for apartments in Hampton Roads, according to local experts and a new report.From the Aurora Sentinel: Denver metro vacancies for homes, condos to rent at lowest since 2001
... In the past year, the number of renters in the region has climbed by nearly 2,000, the largest uptick since 2005.
It’s slim pickings for those seeking a single-family home to rent.This fits with the Reis vacancy survey (showing apartment vacancy rates fell in Q3 to 7.2% from 7.8% in Q2), the NMHC apartment survey, and the Census Bureau's quarterly rental vacancy rate.
Vacancies in for-rent condos, single-family homes and other small properties across metro Denver fell to 2.9 percent during third quarter of this year - the lowest third-quarter rate since 2001.