Home prices in the Avalon region have dipped from their spring peak, but renters are not seeing any relief, according to an analysis of listings data by The Draft.
The median sale price fell about 2 percent from May to September. Over the same period, the median asking rent rose 6 percent from a year earlier.
“Higher mortgage rates keep would-be buyers renting longer, and that pushes rents up,” said housing economist Omar Ruiz.
