Matrix Multifamily San Jose Report-July 2023 July 31, 2023

San Jose shows promise

San Jose YoY rent growth slowed to 1.4 percent, but T3 rates rose 40 basis points to an average of $3,059 in May. And YoY growth is expected to reach 2.9% by year-end. Investment remained solid, with $306 million in sales recorded in the first five months of 2023.