Real Estate
Report: DC Area Rental Market May Be Slowing Down
Less demand for rentals could be good news for renters, bad news for developers.
By Whitney Teal
A new report on the Washington, DC area rental market suggests that developers may have a more difficult time unloading all those high-rises than previously thought, Washington Business Journal reports.
Rental rates are down less than 1 percent, but it’s the first time there’s been a slip of any kind since 2009, a report from Delta Associates, Inc., an Alexandria-based real estate firm, found. The number of units that the DC region will create will decrease also over the next 12 months, WBJ reported.
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One possible cause, offered by WBJ: Good, old-fashioned market over-saturation.
Read more about the report at The Washington Business Journal.
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