Matrix Monthly reports steady rent growth, solid fundamentals
Overall multifamily marketplace remains strong although financial market uncertainty may cool future growth.
SANTA BARBARA, CALIF., Aug. 31, 2015 – U.S. apartment rent growth remained strong in August 2015, according to the latest edition of Matrix Monthly, a report on U.S. multifamily market trends from Yardi®. Nationwide, rents rose by $7 to a record high of $1,162, matching the 6.5% year-over-year increase in July.
While the report sounds a cautionary note in the wake of recent volatility in financial markets, nothing in the data collected by the Yardi® Matrix business unit (formerly Pierce-Eislen) indicates major trouble for multifamily fundamentals. “The demographic and demand trends that have produced historically low apartment vacancy rates will not be easily turned around,” the report said.
Matrix Monthly is a monthly survey of apartment owners in the 107 U.S. markets covered by Yardi Matrix. Brokers, sponsors, banks and equity sources that underwrite multifamily investment transactions use the report as a business development tool.
Now in its fourth decade, Yardi® is committed to the design, development and support of software for real estate investment management and property management. With the Yardi Commercial Suite™, the Yardi Multifamily Suite™, Yardi Investment Suite™ and Yardi Orion™ Business Intelligence, the Yardi Voyager® platform is a complete real estate management solution. It includes operations, accounting and ancillary processes and services with portfolio-wide business intelligence and platform-wide mobility. Yardi is based in Santa Barbara, Calif., and serves clients worldwide from offices in North America, Asia, Australia, Europe and the Middle East. For more information, visit www.yardi.com.
Media Contact: Joel Nelson
Yardi Systems Inc.