Rents are falling!

WOO HOO!!! Rents are falling. Well, wait a miniute, they are but they aren’t according to the December 2022 Rental Report delivered by Zillow rents have fallen three months in a row in a number of markets. The Month-Over-Month average change in rent for the Los Angeles market shows that rents have dropped 0.28%. The typical rent in the LA area is $2,917. But does that mean ALL the markets have shifted. NO! You can expect to see more drastic changes in high demand areas but other communities will remain constant, or possibly go up in cost, as people relocate from higher rental markets into more affordable living. Follow me for more real estate tips.