I find this interesting as someone who has been talking to real estate agents and property managers for several weeks now, albeit in a likely biased urban area. What I am hearing and seeing is an immense difficulty of leasing agents and private lessors finding tenants (far more move outs and record vacancy), which is leading to a persistent decline in lease rates and increase of ancillary financial benefits (e.g., free parking) … in the urban areas, while the farther away and cheaper less urban areas are seeing a slight uptick. I am also hearing real estate agents describe how people are taking up the opportunity of the low mortgage rates, but also that the distribution seems to be away from cities or urban populations.
If you start looking, you will find places like high end apartment complexes with many amenities that are close to public transportation offering deals and discounts with inventory that would have never existed in the past. You will also start noticing that the lease lengths are also clearly formed to align with some kind of forecasting or predictions being made in hopes that the next moving season will normalize thing; well beyond what is normally expected.