REIS Reports: Apartment Vacancy Rate Drops Sharply in Third Quarter

The U.S. apartment market recovery was in full swing in the third quarter as vacancies dropped sharply and rents increased because tenants signed leases in belief they would shortly find jobs.

REIS reported today that the national vacancy The national vacancy rate fell to 7.2 percent from 7.9 percent as renters soaked up 84,382 more units than were vacated. Read the full story at Bloomberg News.