Aug
02

Apartment Rent Increases in Raleigh Among Nation’s Highest

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Rent growth has slowed since last summer in multiple cities across the country, according to new data from Dallas-based Axiometrics, Inc.

National rent growth from May to June was 0.52 percent, compared to 0.76 percent for those months in 2011. Axiometrics cites weak job growth as the reason.

“We will soon know if this is just a one-month blip or if it looks like there will be further softening in the second half of the year, though by historical standards we are still in a strong effective rent growth market,” said Jay Denton, vice president of research for Axiometrics. “Multiple scenarios could play out over the coming months, leading to end-of-year growth rates anywhere from just under 4 percent to as high as 4.7 percent. Much depends on job growth, as well as on new unit deliveries, which are really starting to ramp up.”

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