But big cities like New York, Boston, LA and San Jose see double-digit drops in executed rent amounts
HousingWire (June 30, 2020) -- In April, apartment retention broke records as renters had to stay put due to the pandemic. Come May, apartment operators across the country began to drop rent.
Now, in the week ending June 20, executed rents – a real-time indicator that includes concessions and lease term lengths – for new leases rose 0.08% year over year, according to RealPage.
Although this number is small, it’s a sign of apartment demand rebounding after the last three months of rent declines. In the week ending June 20, total new lease volumes soared by 18.6% year over year.
Read more at: HousingWire