The rental market in Manhattan continues to rebound, according to UrbanDigs’ weekly rental report. During the week of April 27 to May 3, 686 new rental listings were added to the market, a 37% increase compared to the week before. This represents the third largest weekly gain in new listings for 2020. Additionally, the number of leases signed increased 15% compared to the prior week.
Year-over-year numbers, however, remain well below normal. New rental listings for the fifth week of April declined 43% from the 1,208 new rental listings in 2019. The same week’s lease signings were 75% lower than in 2019, UrbanDigs reported.
