VRE - February median monthly asking rents growth at slowest pace in two years: Redin
2023-03-10 13:24:37 ET
- February saw the median U.S. asking rent rise 1.7% Y/Y to $1,937, marking it to be the smallest increase in nearly two years and the lowest level in a year amid vacancies led by high rental costs and rising supply.
- This is compared to 2.4% growth in January to $1,942 which was smallest increase since May 2021 and the lowest level in nearly a year.
- Redfin data indicates February to be the ninth straight month in which rent growth slowed on a Y/Y basis.
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February median monthly asking rents growth at slowest pace in two years: Redin