Rents on the Rise: Shadow Inventory a Solution?

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Posted To: MND NewsWire

REIS Inc, an impartial source of commercial real estate data, has confirmed Mortgage News Daily's prediction earlier this year that renters could be facing some substantial rent increases in the year ahead. The firm's quarterly report shows that the vacancy rates for apartments dropped dramatically during the first quarter and rents have begun to rise, albeit slightly, in some parts of the country. According to a Reuter's story , the vacancy rate for apartments fell to 6.2 percent in the first quarter from 6.4 percent in the preceding quarter. This is the largest percentage drop in any quarter since Reis Inc. began tracking the data in 1999. This continues the pattern MND pointed out in January from Census Bureau data showing the rental vacancy rate in the fourth quarter of 2010 was 9.4 percent...(read more)

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Source: www.mortgagenewsdaily.com

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