Manhattan Vacancy Rates Continue to Rise.

Manhattan is still a place where people want to live and where many people have to live because of their jobs. In the late 1990’s, vacancies hovered around 4%, and anything under 5% is still considered to be an extremely tight market. We’ve all gotten used to a frenzied, feverish tone being attached to all things real estate, whether the market’s going up or going down. On this chart we can see the gradual and steady rise of vacancies since May. Anyone think we’re gonna hit 4% by the middle of winter?

See also: Manhattan Rental Market Vacancies, June 2008

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About Me

Michelle Erfer is a licensed Real Estate Salesperson in New York City.
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