Following a challenging period marked by negative rent growth in some metro areas, the nation's Sun Belt market has delivered some encouraging metrics.
Advertised rents increased in Austin, Dallas, Charlotte, Denver, Raleigh and Phoenix in July, according to the most recent Yardi Matrix national multifamily report. Each of these markets previously had recorded negative rent growth attributable to rapid supply and falling occupancy, giving renters plenty of choices.
Overall, 24 of the Yardi Matrix top 30 metros posted rent gains in July. However, the firm said continued high levels of new deliveries over the next 15 to 18 months could present rent growth uncertainty.
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