The average rent remains level. However, 55% of the 200 communities that responded to a survey report they're offering concessions, although Carter notes there's a trend to offer concessions only on longer leases.
The good news, the company says, is that 1980s vintage property have seen vacancies fall to 6.1% from 7.5%.
In contrast, older properties saw decreasing rents and increased vacancies, up to 8.7% from 7.6%.
Newer properties in the north market area had an average vacancy rate of 12.5%, up from 9.7%.
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