Today, in the CalculatedRisk Real Estate Newsletter: Lawler: Update on Rent Trends
Excerpt: From housing economist Tom Lawler:
Recently released data from various private entities that track US rent trends indicate that US rent growth has weakened considerably this Fall, and several measures suggest that rents have fallen by more than the seasonal norm over the last few months.
Here is a table showing monthly % changes in the Apartment List Rent Index (ALRI, not smoothed), the Zillow Observed Rent Index (ZORI, smoothed via 3-month moving average), and the CoreLogic Single Family Rent Index (CLSFRI, smoothed via 3-month moving average.) I’ve included the ALRI on a 3-month moving average basis to be comparable to the other two indices.
These rent indices show not only has US rent growth slowed sharply, but that rents have actually begun to fall this Fall, and by more than the seasonal norm. There is much more in the article. You can subscribe at https://calculatedrisk.substack.com/ Please subscribe!