Wednesday, March 28, 2012

Axiometrics Reports Apartment Market Delivers Strongest Rent Growth Since May 2011

In its latest research, Axiometrics Inc., a provider of data and advisory services on the apartment market, reports that sequential rent growth in February 2012 was the highest it has been since June 2011, with effective rent (rent net of concessions) increasing by 0.66% from January to February. Likewise, the national occupancy rate improved on a sequential basis for the first time since August 2011, increasing from 93.36% in January to 93.57% in February. This was the highest month-to-month gain since April 2011, and the third highest in the last 18 months. The combined effective rent and occupancy growth rates--0.87%--provide a potential monthly revenue growth figure, and exceed every month since May 2011.  Read the full Axiometrics press release.