U.S. fourth-quarter apartment vacancy rate fell to two-year low

U.S. real estate research firm Reis Inc on Thursday reported fourth-quarter apartment vacancy rate dropped to its lowest level in two years, apartment rents have risen, indicating that the apartment market is extended from the early 2010's recovery process.

The report shows apartment vacancy rate in the fourth quarter of 2009 over the same period from 8% to 6.6%, also lower than 7.1% in the third quarter, the highest since 2008, the lowest level since the third quarter, when the apartment vacancy rate 6.2%.

U.S. apartment vacancy rate has been rising due to increase in the rate of housing foreclosures has forced many people rent apartments. Reis pointed out that last year between January to November, the number of new jobs in the United States was 95.1 million, although this figure is far lower than in the recent economic downturn cycle of 840 million people unemployed, but "the beginning of 2009 to 2009 than mid compared to this stage will have much better conditions, when the United States every month hundreds of thousands of unemployed. "

Reis reported in the fourth quarter effective rent an apartment (that the tenant actually paid the rent) of the monthly average of $ 986, $ 964 higher than the same period last year, also higher than the third quarter of $ 981. The report also showed that apartment owners rent the fourth quarter average asking price of $ 1,042 monthly, $ 1,026 higher than the same period last year, also higher than the third quarter of $ 1,037.

Reis economist Ryan - West Reno (Ryan Severino) said in a report: "Although the slow pace of economic growth and anemic job market is facing a recovery, but the U.S. is gradually returning home seems the market for rental apartments. Effective Homeowners and apartment rents rising rents keep pace means that the asking price, rent concessions are likely will not grow. "