Multifamily rents extended their nationwide decline in May despite what would typically be the height of prime leasing season, according to new research from commercial real estate data firm Yardi Matrix. So reports GlobeSt.com.
Rents were down 0.3% from April, when they declined 0.5% from the previous month, according to Yardi Matrix.
May rent collections remained robust, at 93.3% of apartment households, Yardi Matrix said, citing the National Multifamily Housing Council.
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