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Multifamily Vacancies Stagnant in Q2

On the surface, it appears the recovery in the US apartment market has flatlined. However, Property and Portfolio Research reports several cities seem to have reached a "turning point.

By Sule Aygoren Carranza | Updated on August 15, 2007

Sule Aygoren Carranza is managing editor of Real Estate Forum and editor of Multi Housing forum, from which this article is excerpted.

Boston—On the surface, it appears the recovery in the US apartment market has flatlined. However, Property and Portfolio Research reports that a closer look at the statistics shows several cities seem to have reached a “turning point.”

The vacancy rate for the largest 54 markets covered by the locally based firm remained relatively unchanged between the first and second quarters, at 5.8%. That stagnancy may be misleading, however, since many cities saw a steady uptick in vacancy rates between the end of 2006 and the end of June.

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