San Jose multifamily regained its strength during the spring leasing season, with most fundamentals on track to outperform last year. Average advertised asking rents were up 0.8%, on a trailing three-month basis through May, to $3,414. That was 50 basis points ahead of the U.S. average. Year-over-year, Silicon Valley asking rents grew 3.6%, marking one of the strongest paces nationwide. The U.S. average ticked up 0.1% year-over-year, to $1,767. Occupancy withstood two solid years of supply, with the rate in stabilized assets ticking up 10 basis points year-over-year, to 96.6% as of April. Meanwhile, national occupancy slid 60 basis points, according to the U.S. multifamily market report<\/strong><\/a>.<\/p>\n