Redfin Reports U.S. Asking Rents Rise Most Since 2022 As Apartment Construction Slows

(NASDAQ:Z) SEATTLE--(BUSINESS WIRE)--The median U.S. asking rent rose 2.6% ($45) year over year to $1,790 in August—the largest increase since December 2022. That’s according to a new report from Redfin, the real estate brokerage powered by Rocket. It’s now just $70 below the record high hit in the summer of 2022. August marked the third consecutive month of year-over-year increases following roughly two years of declining or flat rents. On a month-over-month basis, the median asking rent rose 0.3% in Aug