Rents Increase, Homes Supply Drops

U.S. rental prices increased a seasonally adjusted 4.3 percent in June from a year ago, according to a new report from Zillow. That was about the same pace as in May. Rents continued to riseat double-digit rates in Denver, San Francisco and San Jose (Calif.). However,the monthly data indicated that several other major markets have either addedenough new buildings or prices have forced residents to their financial limitsand cannot increase further. In another update, Zillow confirmed that thesupply of homes for sale nationally in June fell 6.5 percent from a year ago.Housing inventory

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