Jan
06
Apartments Maintain Rent Growth Streak
ByNew event! Meet the people leading the sector at RealShare Industrial West. The Westin Long Beach, January 19-20. Room block available.
Delayed new projects are “finally opening with better-than-expected occupancy,” Willet says.SANTA BARBARA, CA—If the proof of the pudding is in the eating, as the old expression has it, then the proof of a property sector’s strength is in its metrics. On that score, investors’ confidence in multifamily continues to be justified, with both Yardi and MPF Research reporting year-over-year gains in apartment rents and occupancy.Yardi Matrix data released Wednesday showed that rents rose in 2015 by an average of 6.4% across the 111 metro areas it tracks. That national average represents the second highest increase over the past decade and 190 basis points more than the 4.5% recorded in 2014, according to the December 2015 edition of Matrix Monthly. It’s the case even as December rents were basically flat, as they have been for the past four months…
