The average U.S. monthly rent fell by $4 in October, down to $1,358, according to the most recent Yardi Matrix Matrix Monthly survey of 121 markets. Rent growth fell to 2.3% year over year (YOY) during the same period, down 30 basis points (bps) from September.
This drop reflects a number of seasonal and cyclic factors. For one, rent growth tends to slow at the top of the fourth quarter, and the multifamily market is cooling down on the whole from its cycle high in 2016. And the national monthly rent is only $5 lower than its all-time high, in August, and is currently $30 higher than it was one year ago.
Read more...Yardi: Multifamily Rent Growth Continues to Decelerate | Multifamily Executive Magazine | Rent Trends, Rents, Economic Conditions, Supply and Demand, Research, Occupancy and Vacancy Rate, Economics, Local Markets, Rent Growth, Forecast, Rental Market, Markets, Oversupply, business intelligence, Yardi:
'via Blog this'
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.