Over the past two years, renters have enjoyed a favorable market as a surge in apartment construction helped moderate rent prices from their pandemic-era highs. Last year marked the highest number of new units completed nationwide since 1974, leading to landlords competing for tenants with discounts and incentives. However, rising construction costs and fewer new projects signal an impending apartment shortage, threatening to push rents higher again. By 2026, the supply of new apartments is expected to drop significantly, tightening the rental market further. While renters currently benefit from a strong supply, this trend is unlikely to last, with experts predicting a challenging market ahead. — news from Business Insider
