The apartment rental market softened in the first quarter, but not as much as expected given a surge in new supply. The apartment vacancy rate edged up to 4.7% in the first quarter, up from 4.6% in the fourth quarter of 2017, according to data released by Reis Inc. on Tuesday. The vacancy rate jumped from 4.3% a year earlier, while the average apartment rent grew 3.9%, Reis said.

Source: Wall Street Journal March 27, 2018 21:00 UTC