by Calculated Risk on 5/02/2024 08:48:00 AM

Today, in the Calculated Risk Real Estate Newsletter: Lawler: Update on Mortgage Rates and Spreads and also New / Renewal Rents

A brief excerpt:

As I’ve written about before, that “new” vs. “renewal” rent growth gap has been observed by publicly-traded companies that are in the residential rental business.

On that score, here are some data from Invitation Homes quarterly earnings supplement on rent growth trends.

Note that while rent increases on new leases were extremely low over the last two quarter, rents on renewals, while down from 2022, were still rising at a relatively rapid pace.

There is much more in the article.