July 13, 2024

The Bureau of Labor Statistics reported declines in the indexes for rent and owners’ equivalent rent, the first decreases in those indexes since 1992.

In another report, it was shown that at least 40% of U.S. markets surveyed by RealFacts sustained an annual rent loss of more than 2% through April 2009.

Only three metro areas showed any rent increases in the first quarter of 2009:

  • Houston at 0.8%
  • Oklahoma City at 0.3%
  • Vallejo-Fairfield, CA at 0.2%.

Declines were seen in:

  • Oxnard, CA at -5.3%
  • Phoenix and Orlando at -4.9%
  • Inland Empire at -4.5%.
Encinitas real estate

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