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Friday, July 08, 2022

Apartment Vacancy Rate Declined in Q2

by Calculated Risk on 7/08/2022 01:25:00 PM

Today, in the Calculated Risk Real Estate Newsletter: Apartment Vacancy Rate Declined in Q2

A brief excerpt:

Moody’s Analytics Reis reported that the apartment vacancy rate was at 4.5% in Q2 2022, down from 4.7% in Q1, and down from a pandemic peak of 5.4% in both Q1 and Q2 2021.
This graph shows the apartment vacancy rate starting in 1980. (Annual rate before 1999, quarterly starting in 1999).  Note: Moody’s Analytics is just for large cities. ...

South Lake Tahoe Click on graph for larger image.

Moody’s Analytics also reported the effective rents were up 2.8% in Q2 from Q1, and up 17.5% year-over-year. Last week, I posted a graph of the year-over-year change for various measures of rent. The Zillow measure is up 15.9% YoY in May, down from 16.6% YoY in April. This is down from a peak of 17.2% YoY in February. The ApartmentList measure is up 14.1% YoY as of June, down from 15.4% in May. This is down from the peak of 17.8% YoY last December.
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