SANTA BARBARA, CA—US multifamily rent growth this year isfalling short of the levels seen in recent years, with May perhapsbeing an inflection point.

According to a new report by Yardi Matrix, average rent, whichreached $1,442 in May, grew $14 over the last three months, for ayear-to-date increase of 1.2%—a decent performance but far short ofthe levels of recent years. Indeed, last month was one of only twoMays in the last six years in which year-to-date rent growth fellbelow 2%, Yardi Matrix says.

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Erika Morphy

Erika Morphy has been writing about commercial real estate at for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.