Signs of a softening for-sale home market are making some worry about a larger economic downturn, and apartment rent growth has faltered, growing less this year than in the past. That being said, apartment market performance varies considerably from region to region. Midwest and Northeast markets have rent growth close to 3-3.5%, while the South and West are less than 1% (and sometimes negative). Apartment construction trends point to a more balanced market as 2025 moves into 2026, but higher supply markets may take longer to get to this equilibrium.

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