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Rental Vacancies Reach Historic Lows as Home Sales Slip


According to a recent report from Capital Economics, the slowdown in home sales is feeding the demand for rentals.

The report forecasts that a slowing economy will also slow home purchase demand, but will give rentals a boost. The number of rental households increased by 600,000 in the second quarter of 2019, according to the Census Bureau, and accounted for the largest gain in three years.

In the second quarter, the apartment vacancy rate was 4.7% and the multifamily rental vacancy rate had dropped to 7.9%,” the report said. “Multifamily rental vacancy rates are furthest below their long run average in the West, and only eight states had above average vacancy in the second quarter.”

Zillow also reported there’s also an uptick in multifamily rental growth, with an annual rise of 3.4% in June, compared with single family housing’s 3% gain.

Read on HERE:

Consider investing in a professionally managed portfolio of single-family homes? Please contact Harold Willig at harold.willig@springviewinvestments.com or 917-209-4452.

Harold Willig is the Manager of SpringView Investment Management, LLC, which he founded in 2012. Mr. Willig also served as HFZ Capital Group’s Chief Financial Officer and was responsible for the oversight of HFZ's Finance and Accounting team. He has over 16 years of finance and accounting experience.

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