Others say that the growing demand for houses has raised rental costs in cities such as San Francisco, Seattle, and Portland, so that 2025 will not support the lessor.
In December 2024, the latest rent price was $ 18 lower than a year ago, decreasing $ 8 from November 2024.
“Rent decline indicates that supply is greater than demand, that is, the landlord needs to drop monthly rent to maintain competitiveness in the market.”
According to the report, the peak rent price in July 2022 was $ 1,700, with the largest annual rents in the middle and western part, including Cleveland, Chicago, Milwaukee, Milwear, Austin, and Nashville. I understand that it is.
“That means cheaper rent, which will make more money every day to save, emergency funds, and discretionary expenditures,” said Andrews.
For example, Memphis, Denver, and Austin were 6.7 %, 5.9 %, and 5 %, respectively. Nashville has decreased by 4.4 %.
Related story
“Because all real estate is local, the lessee market will be a local phenomenon,” said the Epoch Times, a real estate consultant -based real estate consultant Graham Hill.
According to Andrews, stock supply exceeds demand, exceeding demand.
“This will be equal, the supply will satisfy the demand, or will continue to benefit the lessee until the supply is less than in supply demand,” he said. “It’s interesting to see how these buildings encourage the lessee to sign leases.”
Michael Clarke, the founder and CEO of Home Management Platform, suspects that the rental costs are temporary.
“It depends on the pace of economic, interest rates, and new construction,” he told Epoch Times by e -mail. “If the market becomes excessive, the price may eventually start climbing again.”
“If it is a buyer market, there may be less rental demand as buyers travel from rental housing or apartments, but due to inflation and relatively high interest rates, lessor may retain units in the best market. Hill said.
For example, hills have accused the staff of crime and homeless shelter policy that promoted the staff to work in a remote area.
“These areas have a lot of room for construction, and the rent is generally lower than major real estate,” said Hill. “Companies and federal governments want to see workers in the office, and as they include crimes, life in cities improves, so they can see much stronger demand in traditional and popular luxury cities. “
Last month, President Donald Trump announced the end of the federal government’s remote work and issued a memorandum to give federal employees to return to the office in full time.
“The rise in construction costs, restrictions for zoning, and political issues on affordable housing can extend the shortage of housing in these regions,” Clark said.
RealTor.com reports that the rent price of studio apartments has fallen 1.3 % year -on -year, but also reduced apartments in one -bedroom and two -bedrooms by 0.9 %.
“In a specific land area, you can create more studios than two -bedrooms, just because the studio is small and more supplied,” said Hill. “If they are not satisfied, the price will fall.”
