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Housing Market: US: Difference between revisions
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[[File:Screenshot 2023-12-11 091648.png|alt=|center|thumb|643x643px|https://www.apartmentlist.com/research/national-rent-data]] | [[File:Screenshot 2023-12-11 091648.png|alt=|center|thumb|643x643px|https://www.apartmentlist.com/research/national-rent-data]] | ||
[[File:Screenshot 2023-12-11 091700.png|alt=|center|thumb|643x643px|https://www.apartmentlist.com/research/national-rent-data]] | [[File:Screenshot 2023-12-11 091700.png|alt=|center|thumb|643x643px|https://www.apartmentlist.com/research/national-rent-data]] | ||
=== December 2023 === | |||
The rental market closed out 2023 with a fifth straight month of negative rent growth, as the nationwide median rent fell by 0.8 percent to $1,379.1 The recent declines are in line with the rental market’s typical seasonal pattern, as fewer renters are looking to move at this time of year, although this year’s dip has been a bit sharper than what we normally see.<ref name=":0" /> | |||
* Rents are down 0.8% month-over-month, down 1% year-over-year | |||
* On a year-over-year basis, rents nationally are down 1 percent. Year-over-year rent growth fell to zero in June for the first time since the early stages of the pandemic, and has now been in negative territory for seven consecutive months. | |||
* On the supply side of the market, our national vacancy index stands at 6.5 percent, slightly higher than the pre-pandemic average. This represents the culmination of vacancies gradually easing for two full years after a historic tightening in 2021. | |||
* Regionally, rents fell in December in 83 of the nation’s 100 largest cities, and prices are down year-over-year in 60 of these 100 cities | |||
=== November 2023 === | === November 2023 === | ||