From the property mavens at CoStar, November 7:
Elevated supply weighs down rent growth, Apartments.com report finds
U.S. monthly apartment rent growth declined last month in its largest October drop in more than 15 years as an oversupply of units affects all parts of the country.
The national average rent fell to $1,708, a 0.3% decrease from September's revised figure of $1,713. That marks the fourth consecutive month of no change or a negative change in monthly rent, according to a report from CoStar's Apartments.com.
Three of the five steepest monthly rent reductions over the past 15 years occurred this August, September and October, Apartments.com said.
"Apartment rent growth typically follows a seasonal pattern, with acceleration in the spring and a slowdown in late summer and fall," Apartments.com said in the report. "Since 2022, elevated supply levels nationally have turned that deceleration into outright decline each fall."....
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¿Qué pasa?
