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Our March data shows a slight increase in demand for rental apartments.
However, home seekers continued to be price sensitive and often toured a variety of buildings in search of the best deal. To attract these comparison shoppers, landlords increased their use of incentives.
In March, 35% of new leases included a concession, up from 31% in February.
Typically, incentives become less prevalent as spring approaches, so the increase in their use month-over-month is noteworthy.
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