Multifamily’s Rent Growth Slowdown Shows Signs of Leveling Off via GlobeSt

Rent growth declined to below 1% last month, only the second time since the 2010 Great Recession. And it could head down further in the next few months, according to a post by RealPage Chief Economist Jay Parsons. But he expects the rent growth slowdown to level off relatively soon. He explains:

On a month-over-month basis, asking rents have actually risen in every month this year so far, Parsons writes, noting that the year-over-year rent change is cooling quickly because 2023′s increases are so far below 2022′s.

Read more...Multifamily’s Rent Growth Slowdown Shows Signs of Leveling Off via GlobeSt