While apartment rents are still growing nationally, in a few cities and submarkets rents are growing more slowly or even beginning to shrink.
“The only spots where you might find effective rents dropping are in locations affected by a large number of new developments leasing up,” says Ron Witten, founder of data firm Witten Advisors, based in Dallas. “The concessions which these projects offer during initial lease-up sometimes spread to nearby properties.”
Read more...Multifamily Rent Growth Stalls in Top Markets | National Real Estate Investor
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