While multifamily rents increased during the month of May, the rate of growth decelerated for the third month in a row, Yardi Matrix reported in its monthly rent survey. Average U.S. rents increased $4 to $1,316, the survey of 121 markets revealed, while on a year-over-year basis, rents increased 1.5 percent, a 40-basis-point decrease from April. May’s growth rate is 90 points less than March’s was and a considerable deceleration from the 5.3 percent rate seen during the same time last year.
Read more...Three Strikes: Multifamily Growth Slows for Third Consecutive Month
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