Good news: apartment rent hikes are finally starting to slow down due to an increase in supply of new apartment units on the market, an article in MarketWatch said.
Since so many new aprtments units are on the market, landloards can't be as aggressive in raising rents if they want to keep their units filled.
“The first quarter of this year, 54,000 new apartment homes were delivered to the market [nationally] and demand was about 27,000 apartments,” Hans Nordby, managing director of CoStar Group, a provider of information and analytic services for the commercial real-estate industry, said. “That causes vacancies to pick up a bit.”
