REALTORMag
An overabundance of new rental housing stock likely will slow down the rapid increase in rental rates over the next few months, experts say. “That will shift
the balance over the next year to favor renters a bit more in contrast to the strong landlord market we’ve seen over the past five years,” says Daren Blomquist, senior vice president for ATTOM Data.
Monthly rates for single-family rentals in 375 counties rose a collective 4.5 percent in the last year—but that’s slower than the 5.7 percent growth in average wages for renters over the same time period, according to Burns Real Estate Consulting.
