Hotel values tumble in Northern California but perk up elsewhere
Southern California hotel values rose in 2025 while Northern California values fell, driving an overall decline in California median per-room hotel prices.
The rental market is normalizing, but normal still depends on where you live
U.S. rental markets are normalizing overall, with near-zero national rent growth but pronounced regional divergence driven by supply differences and local demand.
Affordability, demographic demand, regional divergence, localized strain, rising inventory, and new-home advantages will create a two-speed U.S. housing market through 2026.