I read this https://www.yesigiveafig.com/p/the-rent-is-too-damn-part-2 which claims "The large backlog of multifamily properties and increasing rental vacancies will lead to a fall in rents by the end of the year."
Will the Zillow Observed Rent Index (ZORI) for all homes including multifamily be lower at the end of 2023 than at the start of 2023.
as reported by the
ZORI https://files.zillowstatic.com/research/public_csvs/zori/Metro_zori_sm_month.csv?t=1690726278
In January 2023 the index was
2005.0333659336923 for the entire United States.
When this question was posted at the end of July the last known value was for June and the value was 2053.8955564204184
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The ZORI as computed from zillow here, for all homes, either seasonally adjusted or not, has increased by more than 50 points. https://www.zillow.com/research/data/