The median asking rent for a new apartment rose 1.5% year over year to $1,802 in the third quarter. Asking rents fell in the Northeast, while rising in the South, West and Midwest regions. New apartment completions rose to the highest level in at least 12 years, with the biggest jumps seen in the West […]
Asking Rents for Newly Built Apartments Rise 1.5%, the Biggest Spike in 18 Months Read More »
The median asking rent fell 0.7% year over year in November to $1,595, dropping 1.1% month over month. The asking price per square foot for rental apartments fell 2.2% year over year to the lowest level since December 2021. Rents dropped across all bedroom counts for the fifth consecutive month. Cleveland recorded the biggest rent
Asking Rents Fall 0.7% to Lowest Level Since March 2022 Read More »
A renter on a $2,000-a-month budget can afford an 1,103-square-foot apartment, up from 1,029 square feet when rents peaked in 2022. Renters are getting more bang for their buck thanks to the recent apartment construction boom, which has led to asking rents stabilizing below their pandemic peak. In Memphis, $2,000 is enough for a 1,570-square-foot
U.S. investor home purchases fell 2% year over year in the third quarter, a much smaller change than the swings of the last several years. Purchases are now back near pre-pandemic levels. In Florida, investor purchases posted double-digit declines amid an ongoing climate and insurance crisis. But investor purchases saw double-digit gains in a handful
Investor Home Purchases Plateau After a Pandemic-Era Rollercoaster Ride Read More »
This year marked the first time since 2010 that low-risk homes across three major climate categories—heat, fire and flood—gained value faster than high-risk homes. That may be a sign Americans are growing more responsive to natural disasters. Still, high-risk homes are much more valuable than they were before the pandemic. Homes facing low risk from
The five U.S. metro areas where pending sales are falling most are all in Florida, though the declines are easing in some metros following a destructive hurricane season. Florida is home to the five U.S. metropolitan areas where pending home sales are falling fastest. In Fort Lauderdale, pending sales dropped 15.2% year over year during
Home Sales Sink Across Florida Amid Hurricane Recovery, Surging HOA and Insurance Costs Read More »
