The price of rental property in the US rose in the third quarter

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The price of rental apartments in the US rose in the third quarter, despite the fact that the volume of proposals from landlords, especially in large cities of the country, was large enough, the Wall Street Journal writes. In the real estate market in the US, there has been an increase in demand for flats due to the growth in the number of jobs and average wages, although the rental rate for the year increased by 2.9%. At the same time there is a drop in demand for houses, which is caused by tax reform. In the third quarter, new construction was reduced by 23.9% year-on-year. The number of facilities under construction fell to 50 thousand 475 houses.

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