Vacancy Rates Slip Slightly — #Newyork #realestate #economy

Vacancy Rates Slip Slightly

by Raja Tayeb on April 27, 2010

Vacancy Rates

The number of vacant homes fell slightly in the first quarter to 2.6 percent from 2.7 percent in the third quarter of 2009, the U.S. Commerce Department reported Monday.

Vacancies in the rental market fell to 10.6 percent in the first quarter from 10.7 in the fourth quarter of 2009, according to Commerce.
Nicholas Tenev, housing analyst with Barclays Capital, says this downward trend is a sign the crisis could be over. “While vacancy rates are likely to remain elevated for some time, both home owner and rental vacancy rates seem to have peaked,” Tenev says.

Source: Reuters News, Corbett B. Daly (04/26/2010)

Posted via web from New York Real Estate Access…A Real Estate Blog

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