Index Investing News
Saturday, May 31, 2025
No Result
View All Result
  • Login
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
No Result
View All Result
Index Investing News
No Result
View All Result

Rent In March Posted The 1st Annual Decline In 3 Years: Redfin

by Index Investing News
April 17, 2023
in Property
Reading Time: 3 mins read
A A
0
Home Property
Share on FacebookShare on Twitter

The median asking rent in the U.S. fell to its lowest point in 13 months in March as the ongoing real estate slowdown continues hitting the rental market, according to a new report.

In these times, double down — on your skills, on your knowledge, on you. Join us Aug. 8-10 at Inman Connect Las Vegas to lean into the shift and learn from the best. Get your ticket now for the best price.

The median asking rent in the U.S. fell to its lowest point in 13 months in March as the ongoing real estate slowdown continues hitting the rental market, according to a new report.

Median rent was down 0.4 percent in March compared to a year before when rent growth was near its peak. It now stands at $1,937 a month, according to Redfin, down from a peak of $2,053. 

It was only the latest report to confirm an ongoing slowdown in rent, as Redfin said it was the first annual decline since the start of the coronavirus pandemic. Despite the slowdown, rent remains well above pre-pandemic levels.

“Rents are falling, but it feels more like they’re just returning to normal, which is healthy to some degree,” said Dan Close, a Redfin real estate agent in Chicago. “Rents ballooned during the pandemic, and are now returning to earth.”

Redfin used rental data from the company Rent., analyzing more than 20,000 apartment buildings in the 49 largest U.S. metros. The analysis captures new leases for apartments available in March, rather than all leases. 

The price of rent skyrocketed during the early months of COVID-19 when people sought more space and formed new households. Demand has since softened as renters — along with everyone else — wait to see whether the U.S. will enter an economic downturn in the coming months.

That drop in demand paired with new supply after a period of record apartment construction is expected to lead to further rent drops, according to recent reports, including from Redfin. Vacancy rates are rising, which will keep downward pressure on the cost of rent.

“The number of multifamily units that went under construction and the number completed each rose to the second-highest level in more than three decades in February, the latest month for which data is available,” according to the Redfin report.

Email Taylor Anderson

Get Inman’s Property Portfolio Newsletter delivered right to your inbox. A weekly roundup of news that real estate investors need to stay on top, delivered every Tuesday. Click here to subscribe.





Source link

Tags: 1stAnnualDeclineMarchpostedRedfinRentYears
ShareTweetShareShare
Previous Post

Freehill Moves Forward With Greater Austin Project

Next Post

Ledo Capital JV to Develop Austin-Area Industrial Park

Related Posts

Simply Listed | 206 SE Wentworth Drive

Simply Listed | 206 SE Wentworth Drive

by Index Investing News
May 30, 2025
0

STUNNING ST. LUCIE PARK3 Beds | 2 Baths Expertise the perfect mixture of character and comfort on this fantastically renovated...

30+ June Social Media Prompts to Kick Off Summer season

30+ June Social Media Prompts to Kick Off Summer season

by Index Investing News
May 30, 2025
0

Transitional months are when messaging actually issues! Temperatures are rising, holidays are being taken, and automatic OOTO replies are working...

High 5 Workplace Tasks Underneath Building in Manhattan

High 5 Workplace Tasks Underneath Building in Manhattan

by Index Investing News
May 30, 2025
0

Manhattan’s under-construction workplace pipeline consisted of 4.6 million sq. ft of aggressive area throughout 12 properties on the finish of...

Simply Listed | 12829 Briarlake Drive #204

Simply Listed | 12829 Briarlake Drive #204

by Index Investing News
May 30, 2025
0

BEAUTIFUL IN BRIARWOOD2 Beds | 2 Baths Alternative awaits to complete making this dwelling yours. Impartial tiles flooring, A spacious...

GBI Particular Report: Sustainable Vitality for Knowledge Facilities, Communities

GBI Particular Report: Sustainable Vitality for Knowledge Facilities, Communities

by Index Investing News
May 29, 2025
0

In keeping with the Electrical Energy Analysis Institute, knowledge facilities might devour as a lot as 9 p.c of the...

Next Post
Ledo Capital JV to Develop Austin-Area Industrial Park

Ledo Capital JV to Develop Austin-Area Industrial Park

The west is in the grip of a decoupling delusion

The west is in the grip of a decoupling delusion

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED

Ahead Water Applied sciences Pronounces First Quarter 2022 Monetary Outcomes

Ahead Water Applied sciences Pronounces First Quarter 2022 Monetary Outcomes

August 27, 2022
Patrick J. Adams, Elle Chapman, and Beau Garrett to star alongside Michelle Pfeiffer within the Yellowstone spinoff The Madison

Patrick J. Adams, Elle Chapman, and Beau Garrett to star alongside Michelle Pfeiffer within the Yellowstone spinoff The Madison

August 20, 2024
The training crucial: India’s Parliament should deal with its studying problem

The training crucial: India’s Parliament should deal with its studying problem

December 23, 2024
Crypto Wallet Security and Best Practices

Crypto Wallet Security and Best Practices

February 24, 2023
What Real Due Diligence Looks Like On Commercial Assets

What Real Due Diligence Looks Like On Commercial Assets

October 30, 2023
U.S. Weighs Shift to Assist Hague Court docket as It Investigates Russian Atrocities

U.S. Weighs Shift to Assist Hague Court docket as It Investigates Russian Atrocities

April 11, 2022
Peace for our time? – Econlib

Peace for our time? – Econlib

November 16, 2024
US and EU break deadlock to allow tariff talks

US and EU break deadlock to allow tariff talks

May 16, 2025
Index Investing News

Get the latest news and follow the coverage of Investing, World News, Stocks, Market Analysis, Business & Financial News, and more from the top trusted sources.

  • 1717575246.7
  • Browse the latest news about investing and more
  • Contact us
  • Cookie Privacy Policy
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Terms and Conditions
  • xtw18387b488

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In