US Median Housing Rent Jumps To $1,653, Highest Since 2022: 'Demand From Young Renters Remains High'
Portfolio Pulse from Piero Cingari
The median U.S. asking rental price increased by 0.8% in May to $1,653, the highest since October 2022, driven by strong demand and limited supply. Despite this, rent price growth is tempered by a backlog of new units. The iShares Residential and Multisector Real Estate ETF (REZ) and Tidal ETF Trust Residential REIT ETF (HAUS) saw slight declines.
June 11, 2024 | 8:37 pm
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NEGATIVE IMPACT
The Tidal ETF Trust Residential REIT ETF (HAUS) edged down by 0.1% as the median U.S. rental price increased, indicating a cautious investor sentiment towards residential REITs amid affordability challenges.
The slight decline in HAUS ETF by 0.1% reflects cautious investor sentiment towards residential REITs, given the rising rental prices and ongoing affordability challenges.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
The iShares Residential and Multisector Real Estate ETF (REZ) declined by 0.9% amid rising median U.S. rental prices, reflecting investor concerns over affordability challenges and market dynamics.
The decline in REZ ETF by 0.9% suggests investor concerns over the rising rental prices and affordability issues, which could impact the performance of residential real estate investments.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80