MF Rents Show Seasonal Flattening
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Atlanta has been the best market for rental growth in the trailing months, Yardi says.
SANTA BARBARA, CA—It appears to be a seasonal occurrence. Along with Halloween and the end of Daylight Saving Time, this time of year brings a flattening of apartment rent growth. Yardi’s latest Matrix Monthlyreport shows that US multifamily rents held at an average $1,166 for October, unchanged from the month before.
October’s rent performance in this regard followed a pattern seen in the past two years, according to Yardi. Along with October representing the first month this year in which rents did not rise month over month, it also represented a slightly lower rate of year-over-year growth at 6.7%, 10 basis points shy of September’s rate, which marked a post-recession high watermark…
