Real Estate

Apartment rents are finally easing. Here’s how to play it

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An Apartment For Rent sign seen in the Upper East Side of Manhattan.

Adam Jeffery | CNBC

Rent growth for apartments looks to have peaked after a tremendous run in 2021, and that could boost some of the real estate stocks that were the early darlings of the pandemic.

Nationally, rents rose just 0.8% between June and July, one-third the growth seen across the same period a year ago, according to RealPage. On an annual basis, rents in July were up 12.2%, compared with 13.8% year-over-year growth in June.

The cooling comes amid a downturn in affordability. Rent growth has outpaced income growth for the past 20 years but the coronavirus pandemic pushed that divide, especially in the more…



Source cnbc.com

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