Posted April 11, 2011 by RentJungle
"National and local rent reports for the first quarter of 2011 are showing more good news for the multifamily real estate sector, with upticks in occupancy and continued gains in effective rents (rents net of concessions) in practically every major metro in the country.
According to a report from Dallas-based apartment research firm Axiometrics, effective rents grew 4.65 percent for the year ending February 2011, the largest such gain since the firm began tracking rent fundamentals in 1996. “I think we are going to see an even better year in 2011 than we saw in 2010,” says Axiomterics president Ron Johnsey. “We are starting to see job growth come back and a near lack of new supply entering the market.”'