South Florida and New York See Apartment Rents Surge More Than 30% [Business News Network (BNN) (Canada)]
Redfin Corporation (RDFN)
Last redfin corporation earnings: 2/12 04:01 pm
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Source: Business News Network
In Miami, West Palm Beach and Fort Lauderdale, rents jumped 36% in October from a year earlier, while the New York City metro area -- including Westchester County and parts of northern New Jersey -- posted a 31% gain, according to a report by Redfin Corp. The average monthly gain increase was 13%, the highest growth rate in at least two years, Redfin said. Seattle; Portland, Oregon; and Austin, Texas, were also among metro areas that beat the U.S. average. “Skyrocketing rents in some of the most desirable cities suggest that there is an overall shortage of homes, and not just of homes for sale,” said Daryl Fairweather, chief economist at Redfin. Rents have surged across the U.S. this year, stoking inflation fears. They've been rising fastest in Sun Belt cities such as Miami and Austin, where jobs and relatively low costs have pulled in transplants. But New York and other coastal cities are making a comeback as more workers return to the office and colleges bring students back
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RDFN
News
- Redfin Reports the Typical U.S. Luxury Home Costs More Than Ever BeforeBusiness Wire
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- Redfin Survey: 70% of Florida Homeowners Have Seen Rise in Insurance Costs or Changes in CoverageBusiness Wire
- Redfin Reports Nearly 40% of Renters Think They’ll Never Own a Home, Up From 27% Last YearBusiness Wire
RDFN
Earnings
- 2/27/24 - Beat
RDFN
Sec Filings
- 3/7/24 - Form 4
- 3/4/24 - Form 4
- 3/1/24 - Form 144
- RDFN's page on the SEC website