Market Trends

For months, mortgage rates rose with no end in sight, and potential homebuyers backed off. Now the reverse is happening.

Much has been made about rising rents in recent months, often with the implication that they are the result of price gouging. In fact, the explanation is much simpler. It’s simple Econ 101—the U.S. does not have enough housing to meet demand.

We have to change the perceptions of the industry," Avanath Capital CEO Daryl Carter said. Avanath owns and operates about 16,000 apartments across 14 states. More than 80% of their units are affordable in the traditional sense, including tax-credit or Section 8 properties.

Join us live at our 2023 Commercial Economic Outlook Breakfast for two dynamic speakers. Dr. Anthony Chan will join us again back again by popular demand, along with Dan Seals, CEO of Intersect Illinois. Both speakers bring data to life through a national and state-wide lens. Join Mainstreet and CCIM Illinois for this powerhouse presentation that is sure to provide informational content to use through out the year.

Join the Mainstreet Global Council virtually as we get an update on Canadian markets from the Manitoba Association of Real Estate, while we give their members our market report. Enjoy this meet-and-greet opportunity with members of this Association and learn about real estate opportunities within this region of the world. You will have the opportunity to share your contact info, and network after when we break out into small groups.

The median asking rent for U.S. apartments rose 7.8% year-over-year in October to $1,983, the smallest annual increase since August 2021, Redfin reports. Rents declined 0.9% nationwide month-over-month.