four consecutive months at an average of
1.6% year-over-year price gains, median
rent rose 4.7% from year ago levels to
$3,190. Average rental price also expanded
at a similar pace, rising 4.9% from prior
year levels to $3,956. The number of new
rentals declined 8.8% from prior year levels,
marking the first drop since July 2012, as
more modest rental price growth at the
end of 2012 forced landlords to be more
consistent with pricing at time of lease

BROOKLYN After last month’s more modest gains,
the rental market resumed robust price
growth in February. Median rent increased
7.2% from the same month last year to
$2,590. The other price indicators showed
larger gains over the same period…