With the help of Jim Tennant of The Tennant Group and Michael Meyer of Rate-Highway Inc., we are conducting rate surveys on a weekly basis and providing analysis and comments where appropriate. We publish this monthly recap in our electronic edition and more comprehensive looks in the print editions.
The February 2014 six-city rate quote average was $1.44 over February 2013, and thus continues the string of year-over-year increases stretching back to November 2012 — interrupted only by a flat April 2013 and a moderate drop in November 2013.
However, within this 16-month period, the February increase is the smallest we have seen in the last 14 months. The large year-over-year increases were not sustainable, and we expect to see rates flatten over the summer.
Individual cities continue to be inconsistent, ranging from a $6.61 decrease in Los Angeles to a $16.05 increase in the Houston market.