By Laura Kusisto | The Wall Street Journal
Increases in apartment rents slowed this spring, typically the period when landlords drive the hardest bargains, suggesting the once-booming market is beginning to cool.
Rents increased by 4% in the second quarter over the same time last year, according to real-estate researcher Reis Inc. That was less than the 5% year-over-year growth in the fourth quarter of last year, which marked the biggest jump in rents since the dot-com boom in the early 2000s.
Another research firm, Axiometrics Inc., showed an even sharper slowdown in year-over-year rent growth, to 3.7% in the second quarter from 5.1% in the same period last year.
