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The asking rent for a typical single-family home was $2,174 in December.
A recent boom in construction is the driving force behind improving affordability.
All four of NMHC’s indices fell below breakeven during its January survey.
Prices increased in all 50 of the most populous US metros last month.
Most of the nation’s fastest-growing housing markets are in the South.
The segment has been impacted recently by diminished moving activity.
Affordability, urban amenities and a high quality of life continue to attract renters.
Half of the nation’s largest 50 metros saw occupancy increase by 30 bps to 100 bps.
Seven of the 10 regions with the highest price growth were in the north.
Office, industrial and multifamily saw sales increases, while retail and hospitality posted decreases.