According to the latest Yardi Matrix, U.S. multifamily rents fell ever so slightly in November, dropping $2 to $1,419, while year-over-year growth fell by 10 basis points to 3.1%. In addition they point out that rents are down $3 from the peak of $1,422 in September. The attribute the small decline to normal seasonal fluctuations. Indeed…
“2018 is shaping up to be another solid year for the multifamily market. Rent growth for the year is 3.1%, which slightly tops our estimate—and those of most market prognosticators—coming into the year. U.S. multifamily rents have stalled in the fourth quarter, but that reflects a typical seasonal pattern.”
Click here to read the full report at YardiMatrix.com.