Rent Fell For The First Time In 8 Months - Reason For Concern?

A recent Housing Wire release cited that the national average rent just dropped for the first time in 8 months according to real estate firm Yardi.

Year over Year rent growth still remains unchanged at 3%.

With other negative news in the market (fed continuing to raise interest rates, equities down last two days) some may find this to be indicative of a larger slow down looming.

Yardi highlights the fact that occupancy continues to rise, hitting 95.4% last month which means that demand has ‘continued to absorb new supply’.

Instead, they hypothesize that the slow down is seasonal, and rents are beginning to decline as we head into the traditionally slower winter months.

You can read the full article here.

Happy investing!