Having already declared 2014 to be the “Year of the Apartment,” locally based Axiometrics now says the sector has gone one better, by posting annualized effective rent growth not seen in more than two years. It’s against this backdrop of continued strength, as well as challenges, that the multifamily industry will convene next month in Los Angeles for the annual RealShare Apartments conference, scheduled for Oct. 15 and 16.
Rent growth nationwide was 4.1% in August, the first time the annualized rate broke the 4% barrier since May 2012, Axiometrics says. Although renrt growth is not at what the research firm calls “the heady 5% levels of mid-2011,” the national apartment market is now “four years into the sector's recovery from the Great Recession, and there hasn't been any notable deceleration in rent growth.”
Read more...'Year of the Apartment' Gets Hotter - Daily News Article - GlobeSt.com
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