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New Jersey Transit train engineers go on strike, stranding some 350,000 commuters

Asking rents have fallen nearly 5% since 2022, but prices could start rebounding soon, Redfin says

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Just 47% of newly built apartments were occupied three months after completion, tied for the lowest level on record.
The article from Fortune, published on May 17, 2025, discusses the current state of the U.S. rental market, highlighting a significant increase in asking rents despite a rise in vacant rental units. According to Redfin's analysis of Census Bureau data, the median asking rent in April 2025 reached $2,053, marking a 2.6% increase from the previous year. This rise in asking rents comes even as the number of vacant units for rent increased by 15% year-over-year, suggesting a disconnect between rental prices and market supply. The article attributes this trend to landlords' reluctance to lower prices due to high operational costs and a still-strong demand in certain regions, despite the overall increase in vacancies. This situation underscores the ongoing challenges faced by renters amidst a seemingly paradoxical market dynamic.

Read the Full Fortune Article at:
[ https://fortune.com/2025/05/17/rent-renting-housing-market-prices-asking-rents-redfin-census-data-vacant/ ]