Currently searching for apartments and I am seeing that prices change daily.
How does this work, and is there any way to predict/calculate on your own when they will rise or drop?
In: Economics
They rise/fall based on a number of factors like specific units up for rent, larger supply/demand balance, cost of alternatives (buying a home, renting a room, renting in different location). You’d have to know the specifics of your area. If lots of people are leaving due to work from home freeing them to live elsewhere, rents may go down. If an apartment building converted to condos and reduced the area supply, prices might go up. If a new luxury building was renting to first time tenants and had lots of units available but is now filled up, their supply may have skewed rents upward and the now available apartments are cheaper on average, or if property tax bills raised rents on landlords and they’re passing them on to tenants at renewal time, they may be going up.
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