With June 2021 behind us, we can see how the average price per square foot in the month of June 2022 has compared to June 2021.
In June 2021 the average price per square foot was $1.64 while in June 2022 the average price per square foot was $1.61 which is 1.8% less than the year before.
This is the first month of 2022 where the average price per square foot was lower in 2022 than it was in 2021. Is this a sign that rates will not top the summer highs of last year? Or will rates pick up more speed as the summer months go on, increasing with traditional demand seen during the summer months?
Take a look at the previous months recaps and reviews here –
Sourced from Radius+ data.