Denver Colorado Apartment Vacancy Rates fall in 3rd Quarter

Denver-area apartment vacancy rates fall; experts warn against calling it a trend:
Denver-area real estate experts were happily surprised that a new report shows local apartment vacancy rates fell in the third quarter from the second period for the first time in the last 21 months, largely because of a decrease in local unemployment. But they also know that one quarterâ¿¿s improvement isnâ¿¿t necessarily a trend.
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Metro Denver apartment-vacancy rate falls for first time in seven quarters:
The apartment-vacancy rate for metro Denver fell to 7.4 percent during the third quarter, marking the first time it has fallen in seven quarters, according to a report released Wednesday. The vacancy rate is at its lowest level since the third quarter of last year, when it was 6.5 percent, according to the survey by the Apartment Association of Metro Denver and the Department of Local Affairs Division of Housing. In general, a vacancy rate of 5 percent is considered equilibrium.
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