"With a record number of new units coming onto the market driving rent prices down, those who may have given up hope of homeownership may be able to leverage more affordable rental options—including downsizing to a smaller unit or considering a roommate for the near term—to help build savings for a future home," said Jiayi Xu, Economist at Realtor.com.
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Multifamily Gains Lead Housing Construction Boom
By conservative estimates, up to 1 million multifamily homes are in the pipeline to be completed soon, giving those who are locked-out of the purchase market other options to live.
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