Late-recovering Western markets push rent growth nationwide

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During the second quarter, the West region posted new lease rent growth of 7.8 percent year over year. This uptick is a major reason why rents for new leases increased by 5.2 percent nationwide spanning the past 12 months and by 2.5 percent during the past three months. Rents for renewal leases also climbed 4.3 percent year over year.