by Calculated Risk on 4/03/2024 12:56:00 PM

Today, in the Real Estate Newsletter: Asking Rents Mostly Unchanged Year-over-year

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 February 2024, except CoreLogic is through January and Apartment List is through March 2024.

The CoreLogic measure is up 2.6% YoY in January, down from 2.8% in December, and down from a peak of 13.9% in April 2022.

The Zillow measure is up 3.6% YoY in February, mostly unchanged from 3.6% YoY in January, and down from a peak of 16.1% YoY in February 2022.

The ApartmentList measure is down 0.8% YoY as of March, mostly unchanged from -0.9% in February, and down from a peak of 17.8% YoY November 2021..
...
The Rent of primary residence was up 5.8% YoY in February down from up 6.1% YoY in January. The Owners’ Equivalent Rent (OER) was up 6.0% YoY in February down from 6.2% YoY in January. The YoY change in OER and in PCE housing have peaked, but will stay elevated for some time, even though asking rent growth has mostly flattened YoY.

There is much more in the article.