Some fast-growing submarkets are seeing the deepest apartment rent cuts amid their Class B and C product, according to a new report from RealPage.
It's not surprising to see that price declines were the worst in the year-ending Q1 in areas where the most, new apartment supply was delivered, the report said, or that rents increased in submarkets with minimal new supply.
"What might be surprising is that it was not the Class A stock – receiving the most competition from new supply – that saw the steepest rate cuts in the past year," according to RealPage analyst Kim O'Brien.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
