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The apartment vacancy rate in Las Vegas decreased by nearly one percentage point this quarter -
going from 9.7 percent in the first quarter of 2014 to 8.9 percent in the second quarter of 2014,
according to data from our apartment survey that are collected by the Center of Business and
Economic Research (CBER). The decrease in this vacancy rate was driven by occupancies in the
downtown and northern areas. The rest of Las Vegas saw vacancy rates similar to last quarter.
Overall, as figure 6 shows, the annual trend indicates that the vacancy rate is slowly decreasing.
The vacancy rate is now about 2 percent below its peak in 2009 (11 percent), but remains greater
than what it was in 2006 (4.5 percent).
With over 2.6 million apartment units updated each month, ALN Apartment Data is one of the most complete and accurate data provider available anywhere in the country. The Las Vegas Apartment Market Overview for June 2014 is now available to view.
“I’m just beyond delighted when my luggage actually arrives.” Sadly, Alex Jackiw isn’t alone. The airline industry is often a good (or, more accurately, bad) reflection of today’s fledgling customer service in general.
While most apartment market observers – including the MPF Research team of analysts – anticipated that U.S. occupancy would backtrack a bit as deliveries accelerated during 2014, so far there’s been an encouraging move in the opposite direction. The 2Q occupancy number for the top 100 metros across the country came in at 95.6%, up a hair from mid-2013’s reading of 95.3%.
Katie Graham is living large. Just in a small apartment. She moved into the new ParkCentral tower in Nashville, Tennessee, for its gym, rooftop deck with heated pool, and the bars and restaurants in the neighborhood below. She didn’t mind the size of the 562-square-foot (52-square-meter) studio.