Annual rent changes are helpful to know but their downside is that it's a lagging indicator of what's currently going on, almost the equivalent of reading yesterday's news to get what's happening today.
On the other hand, year-to-date (YTD) rent growth focuses more on recent performance momentum and is better at looking and understanding what's occurring at a year's midway point, according to RealPage Market Analytics.
Through June 2023, YTD rents have grown 1.9% across the country to reveal strong demand, RealPage reported. An indication that the market is stabilizing also comes from the fact that occupancy has only fluctuated 10 basis points (bps) since this past January to hit 94.7% in June.
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