Some may be moving out of the area, or they may have bought a house or decided to relocate to a different neighborhood or school district.
Between May and July, a lot of leases come up for renewal. That can mean a higher number of tenants moving out and going to live in other locations. If landlords are new to their work, or they aren’t expecting a lot of their tenants to move out at one time, they can find themselves with a higher number of vacancies than they anticipated as they move toward the fall season. That’s generally not a good thing, as it can mean a lower level of income and too many units sitting vacant.