Rents are sitting near record highs and vacancies are on the rise. Landlords are beginning to offer deals to attract renters without lowering asking rents.
"Higher-end properties are beginning to see pressure in certain markets as a significant portion of new units coming online are in the higher-end and luxury segment," Ziglar said. At the same time, there is still "a lot of competition for more affordable units due to less new supply, as well as increased pressure on consumer wallets limiting the ability to stretch for that higher level experience," he added.
The good news is that while rents are still sitting near record highs, rent growth is cooling due to slowing household formation,
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