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News | Slower job growth sets the stage for a rate cut The search for work takes longer as employers add fewer jobs

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Los Angeles Apartment Rents Continue To Decline
"Average asking rents in the Los Angeles multifamily market peaked in August and continue to decline half way into the fourth quarter.

Since reaching a peak in August, average apartment asking rents are down just under 1%. This matches the trend of most other markets across the country, as CoStar's daily asking rent series — informed by near real-time reported rents across Apartments.com and CoStar’s other multifamily platforms — shows that average rates nationally are down 1.5% over the same period. Most areas of L.A. County are seeing rents decline, with only a handful of markets seeing rates hold steady or increase.

Another signal that suggests the market may be tempering is the percentage of properties over 25 units that offer some level of concessions. The percentage providing concessions was fairly stable for over a year, but in September and October the number spiked. As of the end of October, more than 22% of apartment properties were offering concessions. Property managers are likely feeling more pressure to secure tenants in the current uncertain economic environment."

Los Angeles Apartment Rents Continue To Decline Outlook Calls for Losses To Be Minimal, but Economic Uncertainty Clouds the Picture