Market Trends

A wide range of indicators shows surprising strength in everything from jobs, wages, and personal savings to home sales and apartment demand.

Effective asking rents have now fully recovered in a half-dozen gateway metros since prices hit pre-pandemic levels during June across Chicago, Los Angeles, and Northern New Jersey’s Newark-Jersey City area.

Apartment occupancy across the U.S. is sky high and in several small markets, all-time high occupancy rates and fewer total existing units translates into very few vacant units available for rent.

As rents have skyrocketed to record levels this summer, we’re often asked: Are rents surging because of the eviction moratorium?

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They are usually reserved for homebuyers, but bidding wars are becoming more common in the rental home market. Demand for apartment and single-family rentals is surging and outpacing supply.