After a three-year period of rapid growth, rents are likely to flatten in 2016, according to a new report. By December, year-over-year rent increases will have slowed to 1.1% across the U.S., according to projections published on Friday by Zillow. That follows a three-year period during which rents grew more than 3% each year.
Original image has been replaced.
Credit: Mashable
Rent growth is probably easing now because construction of new apartments — which lagged considerably during the last recession — is catching up with pent-up demand. Apartment vacancies increased in the last two quarters of 2015, the first time since 2009 that vacancies went up for consecutive three-month periods.
Original image has been replaced.
Credit: Mashable