Tuesday, March 16, 2010
An article in today's New York Daily News reports what we were reporting last month, that the rental market continues to tighten, and that vacancy rates have dropped this winter, contrary to typical seasonal increase, to 1.54%. Chances are that incentives will dry up and prices will creep up. The big test though is if the market can handle the surge of inventory that typically happens in the spring and summer months. As mentioned before, more landlords are skewing lease end dates to the busier summer months.