Tuesday, July 16, 2024
Home Investment NewsReal Estate Investing According to CoreLogic, rental prices for row homes recorded their first annual decline in 14 years.

According to CoreLogic, rental prices for row homes recorded their first annual decline in 14 years.

by xyonent
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For Rent.jpg

Latest CoreLogic Single Family Rent Index (SFRI)U.S. single-family home rental prices rose 3.4% year-over-year in March 2024, bringing the average monthly cost of a three-bedroom home in the U.S. to $2,052. Additionally, major coastal employment hubs continued to lead the U.S. in annual rent growth, with Seattle, New York and Boston again taking the top three spots, the report said.

“U.S. single-family home rents rose overall in March, but the latest figures revealed some weakness, and for the first time in 14 years, single-family home rentals fell year-over-year. Continued strength in single-family home rents suggests potential homebuyers who are priced out of the home buying market are opting to rent similar alternative properties,” said Molly Bozell, chief economist at CoreLogic.

Click here to read the full report on CoreLogic.

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