Rents are now rising at the slowest pace in 19 months
December 20, 2022 | Diana Olick | CNBC
Rents for both single-family homes and apartments are still rising, but at a far slower pace, as inflation squeezes consumers and landlords lose pricing power.
Rent growth in November slowed for the 10th straight month, with rents up just 3.4% compared with November 2021, according to Realtor.com. That is the smallest gain in 19 months.
In the 50 largest metropolitan markets, the median asking rent dropped to $1,712, down by $22 from October and down $69 from July’s peak.
