UDR - Apartment Rents Teeter On Negative Growth As Supply Set To Surge | Benzinga
U.S. apartment rents might set a new trend, with the possibility of year-over-year negative growth rates emerging as early as next month.
What Happened: With rents in August registering a marginal 0.28% rise compared to the same period last year, a continuation of the trend may come as soon as September, CNBC suggests, citing RealPage.
For perspective, the annual growth rate stood at 11% a year ago.
U.S. rents saw negative rent growth just three times in the past three years, a brief lull caused by Covid-induced lockdowns in 2020, a 0.5% downtick in May of this ...