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Yardi: rent growth starting to moderate this summer across metros

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Rents continue to rise throughout the nation, fueled by strong job growth, demand and the continued fall of homeownership, accoridng to real estate data and software firm Yardi. In the 119 markets covered by Yardi, the average apartment rent in the nation topped the June average by $4 to reach $1,217, according to the most recent Matrix Monthly report. The usual suspects are leading the pack in year-over-year growth and demand, including Sacramento, Los Angeles, Seattle and the Inland Empire. New supply and lack of affordability are causing some metros such as Austin, Houston, Denver and San Francisco to start to moderate. Annually, rent prices increased 5.5 percent, Yardi says, down 10 basis points from the month prior and 120 basis points lower than the peak last October. And while…

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