The red-hot rental market in the U.S. is showing signs of cooling.
Prices are still up from this time last year, but August 2022 was the first time the market experienced a single-digit growth in the past 13 months, according to a report from Realtor.com. At the same time, the median asking rate in the country’s 50 largest cities declined to $1,771, down $10 from July’s median.
Other analysts shared similar observations, including CoreLogic, which says it saw single-family rent growth “continue to slow from the historic high recorded in April” in July, according to its Single-Family Rent Index.
Redfin also says it has seen moderating growth, although it, too, noted that asking rent prices continued to climb. As growth slows, will renters see prices fall, too? Here’s what experts think.
To continue reading the rest of the article, please click on the source link below: