HOUSTON-Though Houston is still a hot area when it comes to commercial real estate and multifamily property trends, Axiometrics Inc.'s July 2013 figures demonstrated year-over-year declines in both annual effective rent growth and revenue growth.
Specifically, annual effective rent growth clocked in at 6%, down from the 6.5% reported in July 2012. Revenue saw a larger decrease, from 8.3% in July 2012 to 6.8% in July 2013. Occupancy increased to 94.4% (from 93.4%).
Cities in California and Florida saw the highest annual effective rent growth year over year.
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