Demand for rental apartments reached a five-year high this spring, spurred by new household formation and lagging home sales. The number of new apartment move-ins in the second quarter of 2019 increased 11% over the same period last year, according to a national report scheduled to be released Monday by real-estate analytics firm RealPage. The demand surge drove the national occupancy rate to 95.8%, compared with 95.4% at the end of the second quarter of 2018, the report said.

Source: Wall Street Journal June 30, 2019 18:00 UTC