Rent Gains Soften as More Multiunit Buildings Enter Market: Trulia via DSNews.com

Rents continued to rise in January, but at a slower pace as more newly-constructed multifamily units hit the market, according to a report from Trulia.

National rents rose 4.1 percent in January, down from the 4.7 percent increase seen earlier in the year in July, data from Trulia revealed.

“Rent gains are slowing down because of more supply, not less demand,” said Jed Kolko, Trulia’s chief economist. “Many of the multi-unit buildings that have been under construction over the past two years are now coming onto the market.”

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