The multifamily vacancy rate fell to 5.3% in the third quarter, down from 5.5% at the end of June. Renters absorbed 153,300 units, one of the highest rates of move-ins in 40 years and 72% above the pre-pandemic average for the third quarter.
“The first drop in vacant units in more than two years signals a crucial turning point in the multifamily sector,” Kelli Carhart said in a statement. “This boost will lead to increased investment activity in 2025 as improving fundamentals continue to drive investor confidence [and] capital deployment.”
Source: Apartment Vacancy Dips As Demand For Rental Housing Outpaces Record Supply
