Wednesday, June 7, 2017

National Year-Over-Year Rent Growth Decelerates For Third Consecutive Month

In its monthly rent survey, Yardi Matrix reports that May, 2017 was the third consecutive month of rent deceleration in its survey of 121 markets. The company reports 36,000 units will come online in 2017 in addition to the 281,000 new units added in 2016.  According to the report, Portland metro's year-over-year average rents increased about 5%. Yardi Matrix forecasts Greater Portland will see rent growth in 2017 of 2.5% and job growth at 2.2% Meanwhile, vacancy rates among their surveyed properties increased 0.2% between March and April, from 5.2% to 5.4%.