“Builders have stepped up and built an incredible number of homes in response to soaring rents during the pandemic, and renters are now seeing the benefits,” said chief economist Skylar Olsen. “Now is a great time for renters to find a deal, with more new apartments hitting the market than at any time in the past several decades. Rents are still growing, but it’s a far cry from the steep rent hikes of two or three years ago, and renters will find sweeteners being offered by more than half of rentals in some places. A slowing job market and lower mortgage rates could mean falling rents if the current trends hold.” According to Zillow, over half of the rental listings offering a concession are in six major metros, many with an increased amount of supply coming online: Raleigh, North Carolina, 53.3%; Charlotte, North Carolina, 53%; Atlanta, 52.2%; Salt Lake City, 50.9%; Nashville, Tennessee, 50.8%; and Austin, Texas, 50.5%." https://lnkd.in/ewx_KccM