Reis: Rent Growth, New Completions Slow, but Demand Should Stay Strong via Multifamily Executive Magazine

According to data presented in Reis' Apartment Sector Preliminary Trends report, 13 metros recorded a decline in rent growth during the fourth quarter of 2016. Boston led the drop, with rents falling by 1.7%, while Washington, D.C.; San Jose, Calif.; and Austin, Texas, experienced rent declines of 0.9% each, followed by other tech markets, including Oakland, Calif., and San Francisco. Palm Beach, Fla., saw the highest rent growth in the last quarter, at 1.9%, followed by Salt Lake City and Sacramento, Calif., each at 1.6%.

Nationwide, rent growth slowed to 0.3% in the fourth quarter, the lowest quarterly result recorded by the New York City–based market research firm since 2009. (Reis economist Barbara Denham notes that 4Q growth rates are usually the lowest of the year.)

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