Dallas-based Axiometrics recently released its latest monthly market performance data and the results show that new units hitting the market have not really made a dent in rent growth thus far.
According to the report, national effective rents increased by only 0.54 percent in July. That makes the year-to-date increase in rents 4.42 percent. But if you look at last summer, the growth is a bit behind this year. Last July was the peak of rent increases, with a 5.32 percent figure. Since last November, rent growth has consistently hovered around the 4 percent mark.
Read more...New Deliveries Fail to Impact Rent Growth… Yet - Rent Trends - Multifamily Executive Magazine
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