Knoxville\u2019s multifamily fundamentals remained mixed in July, as positive short-term rent growth persisted despite pressure from elevated recent supply. Average advertised asking rents rose 0.2%, on a trailing three-month basis, to $1,502, matching the U.S. increase to $1,771, while year-over-year rents declined 1.1% and the national average rose 0.2%, as noted in the national multifamily market report<\/strong><\/a>. The occupancy rate in stabilized properties fell 150 basis points year-over-year to 94.4% in June, reflecting absorption pressure amid the metro\u2019s recent supply expansion.<\/p>\n\n\n