Rising vacancies, slower rent growth, and increased concessions point to changing market conditions across the region
BOSTON — Greater Boston’s multifamily housing market is showing signs of shifting in favor of renters as vacancy rates climb, rent growth slows, and landlords increase concessions, according to Colliers’ Greater Boston Q1 Multifamily Report.
The report found that the region’s multifamily vacancy rate rose to 6.9% in the first quarter, an increase of 80 basis points year over year. The rise was driven largely by slower leasing activity combined with a wave of new apartment deliveries stemming from post-pandemic development projects…