Rental prices remain steady with new units hitting the market but prices remain high

Rent prices are remaining stable in most parts of the country as an influx of new unites hitting the market is helping keep asking prices down and save renters some money on lease renewals.

Paired up with the most expensive housing market in U.S. history, it has been a difficult time for people to afford a place to live. “Rates continue to soften due to incoming economic data that is more sedate. But despite the improving mortgage rate environment, prospective buyers remain on the sidelines, as they negotiate a combination of high house prices and persistent supply shortages,” Freddie Mac chief economist Sam Khater said in a statement.

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