VIDEO: Industry Leaders on the Slowdown in Apartment Rent Growth
A new report from Redfin showing that the median U.S. asking rent rose just 1.7% year-over-year in February offers fresh evidence of what we’ve been hearing both anecdotally and through industry data: apartment rent growth has decelerated in recent months. “It’s not negative, but it’s definitely a slowdown in the robust pace of growth ... The post VIDEO: Industry Leaders on the Slowdown in Apartment Rent Growth appeared first on Connect CRE.
A new report from Redfin showing that the median U.S. asking rent rose just 1.7% year-over-year in February offers fresh evidence of what we’ve been hearing both anecdotally and through industry data: apartment rent growth has decelerated in recent months.
“It’s not negative, but it’s definitely a slowdown in the robust pace of growth that occurred in 2021 and 2022 following COVID,” Robert Hart, CEO of TruAmerica Multifamily, told Connect CRE at the recent National Multifamily Housing Council Annual Meeting. He said that looking at the numbers across TruAmerica’s own portfolio suggested a slowdown in the fourth quarter of 2022.
In the video below, you’ll hear further insights from Hart on where he expects rent growth to go as 2023 progresses. Connect CRE also sounded out James Flynn, CEO of Lument, and Malcolm Davies, managing partner of Way Capital, on the question of whether the direction rent growth has been taking has affected the way they’re structuring deals.
The post VIDEO: Industry Leaders on the Slowdown in Apartment Rent Growth appeared first on Connect CRE.
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