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A “Now Leasing” sign is displayed in front of an apartment complex in Washington, DC, on January 24, 2022.
Stefani Reynolds | AFP | Getty Images
The red-hot rental market is finally starting to cool off along with the rest of housing.
Rents are still higher than they were a year ago, but the gains are shrinking, as landlords lose pricing power in the face of inflation.
Rents in October rose 4.7% compared with October 2021, the slowest annual increase in 18 months, according to Realtor.com. The U.S. median rent was $1,734.
“Our data indicates that we are finally starting to see a bit of relief from the double-digit pace of rent growth that we experienced during the height of the pandemic,”…
Source cnbc.com
