Though this is good news for renters, the housing market in general is still a driver of the current inflation crisis.
According to Zumper CEO Anthemos Georgiades, Denver, Las Vegas, and Salt Lake City are about to experience a jump in vacancies, which will lead to lower rent prices. “Several cities in the Intermountain region are nearing oversupply. We expect prices in these cities to fall more quickly than the national average,” Georgiades noted.
Texas cities like Dallas and Austin will also experience some measure of rent price relief, due to their insistence on building multi-family unit housing even during the pandemic, as the report reads, “This trend is most pronounced in some of the pandemic’s most popular Zoomtowns, including Phoenix and Austin. Texas cities—especially Austin and Dallas—have been extremely bullish in bringing new multi-family developments to market.”
Though this is good news for renters, the housing market in general is still a driver of the current inflation crisis.
RELATED CONTENT: Black Landlord Surprises Tenants With Free Rent For The Holidays
Source: Black Enterprise
