INVH - Apartment REITs saw a drop last month amid April national multifamily rent growth trends showing slowdown

In its national multifamily rent growth trends for April 2022, Apartments.com, national online marketplace owned by CoStar, indicated that national multifamily rent growth at 10.6% Y/Y compared to 11.4% in March. However, on M/M basis, rent growth saw a 0.8% increase with the top 10 performing markets spread across country. On the other hand, the top 10 markets of highest Y/Y rent growth are located in the Sunbelt markets making it the leading top rent growth market; it includes five markets in Florida, two in North Carolina along with Las Vegas, Nashville and Austin. "Overall, April saw a slight deceleration of rent growth both nationally and at the market level. However, in our minds, the bigger takeaway from this report is the number of formerly high-flying rental markets experiencing notable decelerations in rent growth as the month closed," CoStar National Director of Multifamily Analytics Jay Lybik commented. The report points out that number of markets witnessing rent growth

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Apartment REITs saw a drop last month amid April national multifamily rent growth trends showing slowdown