DALLAS-January’s national multifamily property statistics released by local AXIOMetrics Inc. showed a slowdown in annual effective rent growth and a decrease in concession values. Occupancy also took a slight hit, with the national occupancy rate declining 7 basis points from 94.11% in December to 94.04% in January.
The report noted that the slowdown was due to seasonality, but even taking that into account, occupancy rates were an improvement from comparable months of 2011 and 2012.
Furthermore, at the national level, class C properties continued posting the best annual effective rent and occupancy growth rates in January 2013. Class A effective rents, in the meantime, have declined from 5.1% on January, 2012 to 3.2% in January, 2013.