The latest monthly apartment market report from Axiometrics Inc. notes that national effective rents (rents net of concessions) increased 0.54% from June to July, bringing year-to-date (YTD) effective rent growth up to 4.42%. Annualized, the effective rent growth rate has moderated from the peak rate of 5.32% set in July 2011, reaching a point of relative stability around 4.0% for every month since November 2011. While new apartment deliveries have yet to impact rent growth, the rate of new deliveries is accelerating with approximately 56,000 units being delivered in the last six months of 2012 and approximately 129,000 units going online in 2013.
Read more...New Apartment Unit Deliveries Still Accelerating - Multifamily News Headlines – Breaking News, Stories, Top Headlines :: MultifamilyBiz.com
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