Rents Continue to Decline; "Apartment Market Loosens"
Vacancy Rate Increasing as More Supply Comes on Market
The rental market has changed rapidly. This index from the National Multifamily Housing Council (NMHC) has been an excellent leading indicator for rents and vacancy rates, and this suggests higher vacancy rates and falling asking rents in the coming months.
From the NMHC: Rents Continue to Fall as Apartment Market Loosens, Transactions Pull Back Due to H…