In November, apartment rent growth and occupancy reached new heights. This is yet another indication that this country’s housing market doesn’t follow seasonal patterns. Winter is a time when occupancy and rent growth are typically slow.

According to RealPage (a technology platform for real estate), apartment occupancy reached a record high of 97.5% during November. This rate has increased by approximately 250 basis points over the average of 95% for the last three decades.

In November, the annual rise in rents required for move-in leases was 13.9%. Although renewal rent growth is slower when there are changes in an occupant of a unit, it was still growing at 8.8% throughout the second half of this year.

Renters are very interested in luxury goods, and this is why they have a strong demand. Greg Willett from RealPage, chief economist said that as the economy recovered, we have done a better job at high-paying employment than we did in low-paying positions.

This time of the year is when landlords often see lower occupancy. They offer incentives and cut their lease prices. The rental market continues to see more demand than supply, just as it does in the housing market.

The rental market is stronger than the for sale market. John Burns, John Burns Real Estate Consulting CEO, stated that the rent increases have been like nothing I’ve ever seen in my entire life. “We are certainly pulling forward household formation,” he said.

Rent prices rose by 0.6% in November compared with October. Although this is lower than what was seen in spring and summer months it is still noteworthy because fall rent prices are usually lower.