1007 ET - In 4Q, U.S. renter households grew 0.8% year-over-year to 45.4 million, the slowest rise since 1Q 2023, while homeowner households also increased 0.8% to 86.9 million, according to Redfin. This marks the first time in over a year both grew at the same rate, after four quarters of faster renter growth. Home prices are 40% above pre-pandemic levels, versus 20% for rents, driving a rising rentership rate. Increased rental supply has curbed rent growth. Nationally, 34.3% rent and 65.7% own, stable figures, but rentership spikes in costly coastal metros like New York, Los Angeles and San Francisco. Wealthy renters dominate pricey coastal markets, Redfin says.(chris.wack@wsj.com)
(END) Dow Jones Newswires
March 19, 2025 10:07 ET (14:07 GMT)
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