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According to the latest CoreLogic Single-Family Rent Index (SFRI), U.S. single-family home rental prices continue to experience slower growth, registering a 1.7% increase in October, down from the 2.3% from on year ago and the lowest rate since June 2020. In addition, CoreLogic says October’s growth rate was -1.5%, which was below the average -0.5% for October from 2004 through 2019 – marking the 3rd consecutive month of below-trend seasonal growth, a clear sign that rent growth is decelerating
“Single-family rents posted below-trend growth in October, both in annual and monthly rate increases. While national growth was below-trend, some markets, particularly markets that have had tepid rent increases over the past two years, led rent increases for the nation…Markets in the South and West, many of which had red-hot rent growth since 2022 brought down average rent growth.” Said CoreLogic senior principal economist Molly Boesel.
Click here to read the full report at CoreLogic.
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