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With April wrapping up we are seeing rates continue to stabilize. The average price per square foot from April 1- April 24 2021 was $1.64*. In 2022 the average price per square foot from April 1 - April 24 was $1.75*. This was almost a 6.79% increase from the previous year. 6.79% is the lowest increase in the same month from 2021 to 2022 we’ve seen so far this year.
This is a strong indication that rates are falling into traditional patterns.
*(rounded to the second decimal)