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.
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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.
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