Apartment market reporting strong year-end numbers

The national apartment market is showing an unusual uptick at the end of the year, according to a recently-released report from Axiometrics.

Unlike the typical winter trend, rental rates increased from 3.6 percent in October to 3.72 percent in November.

Rental property managers across the country can also expect to see an uptick in rental applications, as the occupancy growth rate jumped up by 48 basis points in November. The increased rate in November marks the sixth consecutive month of growth.

According to the report, Texas led the country in effective growth, with all six of the major metro areas in the state performing above the national average. Additionally, for the first time in four years, Las Vegas posted year-over-year growth in November.