Year-over-year is a comparison of the same period across consecutive years — a standard multifamily market reporting metric for rent growth, vacancy change, cap rate movement.
YoY metrics normalize for seasonality — comparing Q1 2026 to Q1 2025 isolates the year's actual change from seasonal variation. Market reports typically express rent growth, vacancy, and pricing movements on a YoY basis.
LA multifamily YoY metrics Q1 2026 per Kidder Mathews: cap rates up 40 bps, rent growth flat to -0.1%, vacancy up 80 bps. These YoY changes inform the 2026 outlook and pricing discipline.
From the Sterman LA Multifamily Glossary — defined the way a broker with $1.41 billion across 254 closed transactions actually uses these terms.
Michael Sterman, Senior Managing Director Investments, Marcus & Millichap.
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