Wednesday, February 28, 2024 | The Latest Buzz for the Appraisal Industry

October Rental Market Saw Smallest Annual Increase in 14 Months

The median U.S. asking rent in October rose 7.8% year over year to $1,983, the smallest annual increase since August 2021, according to Redfin.

October marked the second straight month of single-digit rent growth following roughly a year of double-digit gains. It was also the fifth consecutive month in which annual rent growth decelerated, with rents rising at about half the pace they were six months earlier.

Rents declined 0.9% on a month-over-month basis.

This post was originally published on this site

Tom Armstrong, MAI

Is Commercial Work for You?

The Commercial Appraisal Path — What to Expect This article is for those interested in learning what it takes to add commercial and multifamily (4+

Read More »
Peter Christensen

An Inside Look at E&O

This article is featured in the 2023 edition of the Appraisal Buzz Magazine. Some other features we have in our magazine include funny Buzztoon comics,

Read More »

TOP RATED PRODUCTS

5/5