Rents are elevating, growing at a much faster pace than home prices in most local U.S. markets. According to new data, however, renting remains more affordable than homeownership for many.
Read More »Price Declines Offering Renters Some Relief
U.S. rent prices fell for the seventh consecutive month in November, according to a new Realtor.com report, as rental supply outpaced elevated demand in the West and South. However, Northeastern renters continued to struggle with higher costs.
Read More »Asking Rents Declined in November as Market Continues to Moderate
Asking rents have declined year-over-year in three of the last four months, according to a new Rent.com report, dropping a total of four times in 2023. As prices continue to climb in the Midwest, other regions saw annual declines in November, as the market continues its seasonal slowdown.
Read More »Share of Millennial Renters Declining as Gen Z Fuels Demand
Outpacing millennials, Gen Zers are now driving renter households, according to a new analysis from the Joint Center for Housing Studies. As Gen Z rental demand heightens and older generations exit the rental market, experts predict the number of renter households Gen Z adds in the next 15 years will be an important pillar of housing demand.
Read More »Increasing Rental Inventory Fuels Rise in Vacancies
While available rental inventory has increased, the overall rental vacancy rate hit nearly 7% in Q3, representing the highest level since 2021. A new Redfin report shows asking rents continuing to linger just below their record high from October.
Read More »Nationwide Construction Boom Expected to Remain High Until 2025
While millions of units are expected to be developed in the coming years, developers are expected to open 460,860 rentals by the end of December. However, a new RentCafe study revealed even that may not be enough to keep up the pace with surging nationwide rental demand as more and more Americans opt for renting over buying.
Read More »Florida Markets Remained Fairly Competitive During Peak Rental Season
Rental market competition was moderate this summer compared to last year, according to a new RentCafe study, with Miami named the most competitive rental market during peak moving season, while two other Florida markets also topped the top 10 list.
Read More »Rising Home Prices Fueled by Ongoing Supply Shortage
Redfin's latest housing market update showed that the total share of homes on the market is down nearly 18% year-over-year, representing the biggest decline since February 2022. A significant lack of homes for sale caused home prices to rise nearly 5% annually, as mortgage-purchase applications remain at their lowest level in nearly three decades.
Read More »Rental Market Experiences Significant Increases in Prices, Listings
While rental prices peaked in Q2, they are expected to trend downward in the coming months, as available-for-rent inventory has surged 70% year-over-year. Here’s what else HouseCanary's latest National Rental Report has to reveal.
Read More »Student Housing Continues Strong Rent Growth
A new study from Yardi Matrix revealed student housing posted five consecutive months of annual rent growth of over 7% recorded through June, while new data projects rates to remain solid throughout the 2023-2024 semester.
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