【Zillow】Rents climb modestly in March, continuing a soft landing from 2022’s record-breaking pace of growth

Asking rents climbed by $9, or 0.5%, from February to March, according to the latest reading of the Zillow Observed Rent Index (ZORI). That builds on February’s 0.3% increase, when monthly rent growth turned positive after a 4-month slide. The 0.5% increase is still somewhat smaller than the typical March increase of 0.6%, averaged over data from 2016 to 2019, suggesting that today’s growth is still driven mainly by seasonal factors, and overall conditions are still rather cool for this time of year.

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