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Rental growth loses speed

Posted on 04 October 2012

The apartment-rental market remained robust in the third quarter but, with home sales improving, the sector is showing signs of losing steam, according to a new report from Reis Inc. The rental-apartment vacancy rate declined to 4.6% during the third quarter from 4.7% in the second, said Reis, a real-estate research firm.
That is the smallest quarterly improvement in the vacancy rate since the sector started recovering in early 2010. Rents increased 0.8% in the third quarter to an average of $1,090 a month, according to Reis, which tracks trends in 79 markets. That is slower than the 1.1% increase in the second quarter but strong compared with historical averages………………………………………..Full Article: Source


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