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Asking rents reach record high in April, some areas see 30% surge in prices
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The median monthly nationwide asking rent reached a record high in April, amounting to over $1,900.
However, it's not all bad news. According to a new report from Redfin, rents are starting to grow at a slower pace, a potential sign of relief for renters, especially those seeking to save up for a down payment on a home.
FIRST-TIME HOMEBUYERS 'GETTING SQUEEZED THE MOST’ BETWEEN INFLATION, HIGHER MORTGAGE RATES: REAL ESTATE EXPERT
The median monthly nationwide asking rent grew 15% in April compared with a year ago, down from the 17% increase in March, according to Redfin. This marked the first slowdown in a year.