Summary of Market Trends in Real Estate

Decline in Effective Rents:

• Effective rents are down in urban markets such as San Francisco and New York City.
• Tech hubs like Seattle and Austin have also seen a decrease in effective rents.

High Vacancy Rates:

• Cities like Miami and Las Vegas are experiencing high vacancy rates.
• Tourism-dependent markets such as Orlando and Honolulu are also struggling with high vacancies.

Hot Take:

Looks like in the real estate world, some markets are singing “All By Myself” with high vacancies while others are shouting “Don’t Bring Me Down” as effective rents take a nosedive. It’s a tale of two cities, or rather, many cities in this case!

Original article: https://www.biggerpockets.com/blog/rental-markets-where-prices-could-start-falling