Low inventories of rental homes as well as strong job growth are fueling increases in single-family rent prices, CoreLogic reported Tuesday.
U.S. single-family rental prices rose 2.9 percent year-over-year in April. CoreLogic analyzed single-family rental price changes nationally and among 20 metro areas.
Nevertheless, the year-over-year rent price has been slowing since February 2016, after peaking at 4.2 percent. It has mostly stabilized over the last year with a month average of 2.7 percent, CoreLogic reports.
Metros with limited construction, low rental vacancies, and strong local economies…