DALLAS—US multifamily continues to gain strength—more than expected, in fact. In a report provided exclusively to GlobeSt.com, Dallas-based Axiometrics says annualized rent growth nationally reached 4.0% in the third quarter for the first time in nearly two years, while quarterly effective rent growth increased significantly over Q3 2013.

Occupancy also notched north of 95%, breaking the record of 95.0% set last quarter, which had been the highest since Q1 2001. Q3′s quarterly growth in effective net rents increased to 1.6% from 1.2% the year prior, continuing a pattern of year-over-year improvements established at the start of 2014.

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