By Dawn Wotapka | The Wall Street Journal
Apartment landlords are continuing to raise rents, but there are signs that the pace is slowing.
Nationwide, landlords increased rents an average of 0.7% to $1,062 in the second quarter, according to a report to be released Tuesday by Reis Inc., REIS -1.13% a real-estate research firm. While that is a hair above the 0.6% increase notched in the first quarter, it is well below the 1.3% rise achieved a year earlier.
“The weak labor market and income growth continue to hold rent growth in check,” Reis wrote in its report.
The vacancy rate, meanwhile, held steady at 4.3% in the second quarter, unchanged from the first quarter and marking the first time the rate didn’t decline since early 2010.
