Redfin Reports U.S. Asking Rents Fell Slightly in March, But Tariffs Could Drive Up Costs for Renters
Redfin Corporation (RDFN)
Last redfin corporation earnings: 2/12 04:01 pm
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Source: Business Wire
New tariffs could increase rental demand and hamper rental supply, which would cause rents to rise SEATTLE--(BUSINESS WIRE)--(NASDAQ: RDFN) —The median U.S. asking price fell 0.6% year over year to $1,610 in March, and rose 0.4% month over month. That’s according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage.Asking rents have stabilized below their 2022 record high of $1,705. March marked the 13th-straight month in which asking rents barely decreased or increased, with a year-over-year change of less than 1% during each of those months.Redfin economists have been saying for months that it’s only a matter of time before rents tick up again. That’s because apartment construction is slowing, which will likely motivate landlords to raise rents because there won’t be as much supply, meaning they won’t be competing as fiercely for tenants. Now there’s a new twist that could expedite this process: tariffs.“America gets a lot of building materials f
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