California Markets See First Rent Decline In Two Years
Realtor.com notes these declines could be connected by tech layoffs and a weakening job market in the state
Realtor.com notes these declines could be connected by tech layoffs and a weakening job market in the state
The median asking rent fell 0.4 percent in March to the lowest level in 13 months
The national median rent rose to $1,937 in February
Typical asking rents at the national level now stand at $1,981, still 7.4 percent more than this time last year
None of the top 40 largest markets saw their year-over-year asking rents expand in the month of November
Nationally, both one- and two-bedroom prices are down—the first time in two years that both markers have declined in tandem
Big tech cities were among the only large markets to post double-digit annual rent gains in September
Climbing mortgage rates drove monthly starter homeownership costs by 29.9 percent higher than rents
With just a 0.7 percent increase from May, it’s the smallest month-over-month gain since the start of the year
Last month’s numbers mark the highest annual and monthly growth rates in at least two years
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