Rent growth for single-family homes has skidded to its lowest level in a decade, according to a recent report from Corelogic. So reports CNBC.
U.S. single-family rents increased a mere 1.7% in May, according to Corelogic. These 12 million rental homes were seeing almost twice as much growth a year ago.
“With unemployment rates predicted to remain high through the end of the year, we can expect to see further easing in rent growth as the economy struggles this year,” Corelogic economist Mary Boesel said.