Axiometrics: No Turkeys in October Multifamily Trends
Multifamily showed its dominance in the October numbers when apartment annual effective rent growth was the strongest of any October since the Great Recession, even though the October 2015 rate moderated to 4.9% from the 5.2% recorded in September, says Axiometrics research VP Stephanie McCleskey. She says the national October annual rate is the lowest monthly rate recorded in 2015; when extended to two decimals, last month’s 4.88% is 1 basis point below January’s 4.89%. That doesn’t mean the apartment market’s herculean 2015 strength is fading: the 5.1% average annual rent growth from January to October 2015, compared to the 3.6% during the same period in 2014, gives an indication of the current strength of the apartment market, she tells us.
