Reis Reports: Multifamily Vacancy, Rent Growth Trends Steady in 2Q

In a recent analysis, Reis Reports, the commercial real estate research service, reports that rent growth and vacancy trends for multifamily real estate held steady in the second quarter of 2014, as the national vacancy rate remained at 4.1%, and effective rent growth was 3.2% year over year.

Reis noted that supply growth is accelerating, at 34,000 new units added in the quarter, compared to 27,000 in 1Q. However, demand, at 35,000 units, continued to outstrip new supply, resulting in the unchanged overall vacancy rate.

The report notes that owners