Apartment vacancies fall

Colorado’s apartment-vacancy rate has reached its lowest level since 2001, the Colorado Division of Real Estate reported today.

The statewide apartment-vacancy rate, not including Denver, averaged 5 percent in the third quarter, down from 5.5 percent a year earlier and from 5.2 percent in the second quarter.

Metro Denver’s vacancy rate, measured in an earlier survey, fell from 5.3 percent to 4.9 percent.

The statewide average apartment rent rose 3.1 percent, from $871 a year ago to $898 in the third quarter.

Great news for the Denver Real Estate market!