Key lessons here are that each market is really telling its own story!

• The national averages are helpful, and we should be mindful of those trends and stay conservative.
• The more you focus in on an individual market, the greater the occurrence of and subsequent need for nuance.
• Most of the top 50 markets saw increases in single home rent rates.
• The multi-family market had a bit more complexity, but also a number of those markets have seen big inventory increases in multi-family properties, creating some listlessness in the data.
• Rents are still increasing year-over-year, if not as exponentially as in years past.
• We're seeing a marked increase in Move-In Specials and Deals, likely caused by an influx of newly built properties.