Apartment rents are suddenly rising faster, reversing year-long trend
- Rents in the third quarter of this year were up 2.9 percent compared with a year ago, according to RealPage, a real estate analytics firm. That's up from 2.5 percent annual growth in the second quarter.
- The apartment occupancy rate is quite high at 95.8 percent, up from 95.4 percent in the second quarter.
- Apartment demand is being strengthened by an improving economy and a shortage of homes for sale.