A ‘For Rent’ sign is posted near a home on February 07, 2022 in Houston, Texas.
Brandon Bell | Getty Images
Rents for single-family homes were 12.6% higher in July compared with the year-earlier month, but the gains continue to shrink from the record high seen in April, according to a new report from CoreLogic.
Most major metropolitan areas are seeing the same cooling, even in the Sun Belt which saw rents soar the most during the first years of the pandemic.
Miami continues to see the biggest gain, with rents up nearly 31% from the year before, but that’s actually down from 41% growth seen in March. Phoenix rents were up 12.2% in July, but down from an 18% gain in March.
Rents soared in…