Yardi Matrix: Multifamily Rents Steady in February via CPExecutive.com

Rents made a solid increase in the past month, increasing $7 to an average national rental rate of $1,175, an all-time high, according to Yardi Matrix’s most recent Matrix Monthly report. This figure replaced January’s peak of $1,168. On a year-over-year basis, rents were up 5.9 percent in February, which is 6.4 percent less than a month earlier. The 50-basis-point decrease is not likely cause for concern, as the report chalks this up to the exceptionally strong numbers of February 2015 and the predicted moderation of rent growth this year. “Even though the year-over-year declined 50 basis points, February was still a pretty good month and we’re still seeing good rent increases. The reason it declined is because last February was even better,” said Paul Fiorilla, editorial director of Yardi Matrix.

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