Asking Rents Down 1.1% Year-over-year

by Calculated Risk on 12/05/2023 12:27:00 PM

Today, in the Calculated Risk Real Estate Newsletter: Asking Rents Down 1.1% Year-over-year

A brief excerpt:

Here is a graph of the year-over-year (YoY) change for these measures since January 2015. Most of these measures are through October 2023, except CoreLogic is through September and Apartment List is through November 2023.

Rents YoYThe CoreLogic measure is up 2.6% YoY in September, down from 2.9% in August, and down from a peak of 13.9% in April 2022.

The Zillow measure is up 3.2% YoY in October, mostly unchanged from 3.2% YoY in September, and down from a peak of 16.1% YoY in March 2022.

The ApartmentList measure is down 1.1% YoY as of November, up from -1.2% in October, and down from a peak of 18.2% YoY November 2021.

OER and CPI shelter will decline further in the CPI release next week.

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