Bay area apartment rent increases slowing in the 3rd quarter of 2013.
Posted on October 16th, 2013 in House for Rent | No Comments »
Bay Area apartment rents slowed their march upward in the third quarter in a sign that the worst may be over in a region that has been slammed by two years of increases, according to a report Tuesday.
The average $2,006 a month asking price for all types of units was up 2.6 percent from the second quarter, considerably lower than the 5.2 percent jump earlier this year. The annual growth was 9.2 percent, according to RealFacts, which tracks apartment complexes of 50 units or more.
With occupancy rates dipping, RealFacts said, rent increase may continue to slow as landlords face more competition, particularly as more apartments are built.
Pete Carey at Mercury News.