Rent Relief: Asking Prices Fall Two Percent Out West
Nationwide, rents declined 1 percent from a year earlier in May—the largest drop since 2020
Nationwide, rents declined 1 percent from a year earlier in May—the largest drop since 2020
Asking rents climbed by $12, or 0.6 percent, from March to April, according to the latest edition of the Zillow ...
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
The increase is only somewhat smaller than the typical February increase of 0.4 percent, averaged over data from 2016-2020
Redfin found 11 metros where rents are already falling, though none are in CA
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
L.A. and San Diego were among the most expensive cities for renters in the U.S.
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