Economists say the rental market is finally cooling off – WCNC.com

Across the country, real estate data company Redfin economists say the rental market is finally cooling off.

CHARLOTTE, N.C. — Charlotte’s rent is rising, but things are finally headed in the right direction.

Let’s connect the dots.

Across the country, real estate data company Redfin economists say the rental market is finally cooling off. In fact, 14 major metro areas across the country saw rent rates drop year over year.

You can stream WCNC Charlotte on Roku and Amazon Fire TV, just download the free app.

But that’s not the case in Charlotte.

The asking rent in Charlotte is up nearly 5% over the same time last year. The median rent is now nearly $1,900 a month. And that doesn’t even compare to our neighbors up north.

The survey found Raleigh rent increased 22% in the last year, more than anywhere else in the country.

And a lot of it is thanks to the home-buying market.

Experts say once mortgage rates fall, it could lead more folks out of rental properties, lowering demand.

For the latest breaking news, weather and traffic alerts, download the WCNC Charlotte mobile app.

https://youtube.com/watch?v=videoseries&list=PL8oZAT4zituBfrdL2s0kkpnYyDTEx198t

FREE PODCASTS

Flashpoint is a weekly in-depth look at politics in Charlotte, North Carolina, South Carolina, and beyond with host Ben Thompson. Listen to the podcast weekly. 
SUBSCRIBE: Apple Podcasts || Spotify || Stitcher || Google Podcasts 

All of WCNC Charlotte’s podcasts are free and available for both streaming and download. You can listen now on Android, iPhone, Amazon, and other internet-connected devices. Join us from North Carolina, South Carolina, or on the go anywhere. 

Locked On is the leading podcast network for local sports and is owned by WCNC Charlotte’s parent company

The original article can be found here