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December 31, 2013

Apartment rents down, vacancy up: cause for concern or just a blip?

By NAT LEVY
Journal Staff Reporter

Apartment vacancy increased and rents dropped slightly to close out the year, according to a report by Tom Cain of Apartment Insights Washington, but brokers say Seattle's hot apartment market hasn't cooled off yet.

Cain reports that vacancy in properties with more than 50 units in King and Snohomish counties increased from 4.4 percent in the third quarter to 4.63 percent in the fourth quarter. A year ago the vacancy rate was 4.75 percent.


 
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