CBRE: Multifamily Rental Growth Slows in Q3

CBRE, Dallas, found that average multifamily rent growth slowed to 0.7% year-over-year in the third quarter amid an influx of deliveries of new units.

MBA Chart of the Week: Rent Growth–Year-over-Year Percentage Change

This week’s MBA Chart of the Week highlights a question related to housing costs and inflation: If home price appreciation and rent growth have been in double digits in the past few quarters—as highlighted by the (blue lined) Zillow Observed Rent Index in the chart—why is the shelter component (orange line) of the Consumer Price Index below 6%?