About 65% of US landlords plan to raise rents in the next 12 months, a new survey from Avail by Realtor.com showed. AdvertisementShifts are underway in the US housing market, with landlords turning less aggressive on raising rent prices in the coming months. Of the landlords who said they don't plan to raise rent, 48.2% said they aim to retain renters and avoid turnover, given the current market conditions. Meanwhile, Rent.com data shows that rent prices climbed 0.29% in April on a year-over-year basis, the smallest annual increase in more than three years. With rent prices still hovering close to record-highs, that poses an obstacle for landlords looking to keep units occupied moving into 2024.

Source: Economic Times May 30, 2023 16:11 UTC