Real Estate

Coronavirus pandemic cuts rent growth to a decade low


A house for rent in Corona Del Mar, California.

Scott Mlyn | CNBC

 Back in February, just before the coronavirus hit the U.S. economy with a vengeance, rent growth for single-family homes had hit its highest pace in four years. Barely three months later, that growth plummeted to a decade low.

Single-family rents grew just 1.7% annually in May on a national level, according to CoreLogic. That’s the slowest growth rate in nearly a decade and a little more than half the growth these 12 million rental homes were seeing the year before. Single-family rentals make up 35% of all rental housing in the U.S., and these homes are valued at more than $2.3 trillion.

“Single-family rent growth slowed…


Tesla isn’t a gurantee for the S&P 500 even with year of profits

Previous article

Key Senate committee approves Shelton, Waller for Fed positions

Next article

You may also like

Leave a Reply

Notify of

More in Real Estate