US Rental Market Slows Amidst Weakening Demand and Declining Asking Rents

New lease asking prices in the U.S. have risen by just under 2% during the last 12 months, marking a slowdown from the double-digit increases seen a year prior. Demand among renters is weakening amidst higher prices, with 48 of 100 largest U.S. cities reporting negative rent growth for new leases. This marks the second time since the 2008 financial crisis that asking rents have declined, including the brief period during the pandemic. While this drop could be a relief for households battling high rents, it could pose challenges for property investors. Read More.