Favorable multifamily climate predicted to last through 2014 via HousingWire

Rent gains accelerated to 2.8% year-over-year in June, the largest annual increase since January, according to Trulia’s latest rent monitor.

However, what’s interesting is that, despite the gains in rent cost, rents are outpacing home prices in only 3 out of the 25 largest rental markets: Houston, Philadelphia and New York.

So with home asking prices up between 1.2% and 1.5% per month, according to Trulia ($31.70 0.08%), will more potential buyers be forced to rent instead of buy?

According to MPF Research, a division of RealPage, Inc., annual rent growth is accelerating yet again after cooling a bit throughout 2012 and early 2013. Typical monthly rent across the nation’s 100 largest metros now is at $1,110.

Read more....Favorable multifamily climate predicted to last through 2014 | HousingWire