Apartment demand expected to be robust for years

Overall demand for apartments will likely keep the national vacancy rate at a sustainable level for several years, according to a report by the National Multifamily Housing Council and the National Apartment Association. In some markets — such as Las Vegas; Raleigh, N.C.; and Miami, Fort Lauderdale, and Orlando, Fla. — there will be a supply shortfall, says Greg Willett, chief economist with real estate data firm RealPage.

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