So Cal Rents Continue to Fall

So Cal Rents Continue To Fall

Southern California rents, as measured by the Consumer Price Index “CPI”, fell for the seventh consecutive month in April. On a year-over-year basis It’s the longest era of declining rents since the mid-1990s.

April’s rent CPI was down 0.6% from a year ago — slightly smaller declines that we saw in the previous four months. The SoCal rent CPI fell in 17 of 26 months in a period that ended in November 1995. SoCal rents, by this measure, rose steadily on a year-over-year basis from that point until last October — and averaged 4.4% annual growth in that period.

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