It's the grade-point average parents wish for their children. It's an earned-run average Major League pitchers strive to be under. And in the current apartment cycle, 4% represents an effective rent growth rate not seen in more than two years.
Until August.
Annualized effective rent growth for the United States apartment market was 4.1% in August 2014, the first time the rate surpassed the 4% barrier since May 2012. While not at the heady 5% levels of mid-2011, the national apartment market is four years into the sector's recovery from the Great Recession, and there hasn't been any notable deceleration in rent growth.
Read more...Market Trends August 2014: Fantastic 4% - Multifamily Blogs
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