The fact that fewer people are moving out of apartments to buy homes helped the performance of apartment-industry REITs in the second quarter. The best results came from REITs operating in stronger housing markets typified by fewer job losses and less competition from rented homes. Topping the list was Essex Property Trust, which has a presence in Seattle and San Francisco. Second was Highlands Ranch, Colo.-based UDR, which had rent growth of 4.4%.

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