article thumbnail

Monthly Asking Rents Rose to a New High in February

Pro Builder

Housing costs are on the rise for both renters and buyers, but elevated mortgage rates are making homeownership the least affordable option. On the contrary, Milwaukee and Kansas City were the only two metros tracked by Redfin where rents declined year-over-year in February. Housing Markets. Market Data + Trends.

article thumbnail

Home Prices Plateaued in October as Rising Mortgage Rates Put Pressure on Buyers’ Budgets

Pro Builder

Home prices are falling in housing markets that saw record home sales throughout the pandemic as soaring interest rates continue to price out prospective buyers. Tight inventory sustained elevated prices, though some formerly red-hot housing markets posted small but steady declines throughout October. Fri, 11/18/2022 - 10:20.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Asking Rents Continued to Rise in April, But at a Slower Pace

Pro Builder

Hot housing markets like Austin, Portland, and Miami are seeing year-over-year asking rents rise by 46%, 33%, and 31%, respectively, while just three of the 50 most populous metros reported a drop in rents from the year prior. . Rents declined 8% in Milwaukee, WI, 4% in Kansas City and 2% in Minneapolis. Build to Rent.

article thumbnail

June Asking Rents Posted Smallest Increase Since October as Landlords Respond to Falling Demand

Pro Builder

Milwaukee, Minneapolis, and Kansas City saw rents fall by 12%, 7%, and 1%, respectively, and the same three metro areas reported rent drops in April and May as well. With the cost of gas, food and other products soaring, renters have less money to spend on housing,” said Redfin chief economist Daryl Fairweather. . “To