Vacancy rates for the 3rd quarter for stabilized 50+ multifamily properties decreased from 6.8% to 6.5%. This is the 13th decrease in the past 14 quarters. Vacancy rates for the 50-99 communities decreased 0.14% – and the 100+ decreased by 0.39%. Of the 32 metro Phoenix sub-markets surveyed, 18 reported decreased vacancy rates and only four reported vacancy rates above 8% (west central and south Phoenix). Vacancy rates for each sub-market are posted on our web site www.KLCommercialGroup.com.