Rental income increased Nationwide, while asking rental rates also increased. Physical occupancy increased sligthly third quarter of the yearly cycle Nationwide. The increase in rental income is particularly important because it demonstrates that revenue enhancement models increased rents on units in place Nationwide. This can further be demonstrated in the “National” graph of actual rent. Supply and demand metrics appear to be slightly slowing this quarter, and negative for the year. Construction starts increased 10% from last quarter and decreased 10% as of 3Q18. According to F.W. Dodge, there have been 432 new starts the last four quarters (new starts includes new construction and alterations, additions, or renovations).
National Actual Rent Per SQFT (10x10 Analysis)
Climate - Upper Level
Non-Climate - Upper Level
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