Rental market holding up better than sales

On yesterday’s WNYC radio show “The Brian Lehrer Show,” host Brian Lehrer talked to Curbed founder Lockhart Steele and Sam Chandan, chief economist of Real Estate Economics, about the decline in rents in the city. Steele said rents are holding up better than sale prices, but it’s hard to determine by how much because there are so few sales transactions. He also said some landlords are holding back extra inventory rather than lowering rental prices. Chandan added that instead of lower rents, some landlords are just offering more concessions to attract renters.