Receding Rents

According to CoreLogic, October rents were up 8.8% Y-o-Y, down from 10.2% in September and a peak of 13.9% in April. Zillow’s index has November rents up 8.4% Y-o-Y, down from 9.6% in October, and a peak of 17.1% in February. Lastly, Apartment List has December rents up 3.9% Y-o-Y, down from 4.5% in November, and a peak of 17.1% in February. Rents will soon be reducing inflation.