Rent prices are leveling off as the number of available apartments grows across the country.
The rising number of new apartments being built across the U.S. is causing rent prices to finally cool down, according to the latest data, in what's the best news tenants have received in the past three years.Rents, very much like home prices, skyrocketed during the pandemic years, soaring by the double digits. But as the number of new listings increases and landlords have to grapple with rising vacancies, rents are finally cooling down.
If rents are only now leveling off and are still far from dropping, as tenants might wish for, it's because high mortgage rates continue to fuel demand for rented properties and because landlords are finding alternative ways of attracting tenants. According to the Redfin report, some landlords are offering one-time discounts rather than lowering rent.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
UPDATE: Victim in Point Loma vacation rental death investigation identifiedPat Mueller joined the ABC 10News team as a Digital Content Producer in Aug. 2022.
Read more »
Utah ranks third in nation for most unaffordable housing market behind Hawaii, CaliforniaHome sweet home is more within reach in every other state than Utah, except two—Hawaii and California.That’s according to a new report from bestbrokers.com, whi
Read more »
Crypto Market Cap Hits $2 Trillion as Bitcoin (BTC) Price Taps $52K (Market Watch)Crypto Blog
Read more »
Update: SM Entertainment Shares Update On SHINee’s ContractsUpdate: SM Entertainment Shares Update On SHINee’s Contracts
Read more »
Property assessments in Juneau rose by less than 2% from last yearThe city finance director says the increase reflects a cooling housing market.
Read more »
SHIB's 106% Move Higher Led CoinDesk 20 Gainers Last Week: CoinDesk Indices Market UpdateTracy Stephens is a Senior Index Manager at CoinDesk Indices.
Read more »