Tag

Asking Rents

All articles tagged with #asking rents

real-estate2 years ago•1 min saved

Renters Rejoice: Asking Rents Plummet to 3-Year Low

Median asking rents in the US have experienced their largest year-over-year drop since February 2020, according to a report by Redfin. The surge in housing supply has led to an increase in rental vacancies, prompting landlords to offer more concessions to attract tenants. While this may be good news for renters in the short term, Redfin cautions against expecting a broader rent drop in the coming years, as the supply of single-family homes remains limited. Additionally, larger rental units may see higher prices due to the demand from growing families and the popularity of remote work.

via Business Insider|

#asking-rents #housing-supply #real-estate

real-estate2 years ago•4 min saved

Renters Rejoice: Asking Rents See Largest Decline in 3+ Years

The U.S. rental market is experiencing a decline in asking rents, with the median rent falling 2% year over year in November, the largest drop since 2020. This is attributed to a building boom in recent years, resulting in increased supply and rising vacancies. Landlords are offering concessions and discounts to attract renters, leading to a faster decline in prices than reflected in the data. However, rents in the Midwest are still rising due to out-of-towners seeking more affordable options. The rental market is expected to remain strong, especially for large rentals, as many Americans are priced out of homeownership.

via Redfin News |

#asking-rents #midwest #real-estate