Single-Family Home Prices Cool, Rents Continue to Rise
After rising for 24 straight months, the average price of existing single-family homes is finally decreasing as the buying frenzy fizzles out and mortgage rates rise. According to Lynn Pollack, “the problems of the single-family housing market are almost universally regarded as a boon for multifamily, as millennials looking to form households will likely turn to the higher-end rental market as an alternative.”
