Strong April performance numbers will help the multi-family sector deliver outstanding returns for owners and operators over the next 20 months, as effective rent growth and occupancy rates remain at near-record highs. According to OKCREview.com, the overall trend in the sector is onward and upward with the typical growth coming from the major markets now being joined by other regions experiencing similar positive results.
According to Axiometrics, a provider of data and analysis on the multi-family sector, national effective rents increased 0.68% between March and April 2011, and the year-to-date effective rent growth of 2.45% has outpaced 2010′s rate of 1.96%. Additionally, the national occupancy rate increased for the 11th time in the past 15 months, growing 33 basis points from 93.48% in March to 93.81% in April.
To read the full article from OKCREview.com, click here.