Rental Real Estate News

The national rental vacancy fell to 8.6% in the second quarter the Department of Commerce Census Bureau reports. Furthermore, the vacancy rates for rentals were 6.7% with this number being the largest at 11% in the southern parts of the United States.

Meanwhile, there is another trend appearing in the rental word. Rental prices are dropping and the asking rental costs are on average $716/m. The two patterns are competing with one another. As vacancy rates continue to fall, rent will be rising. To complicate the dynamics more, investors have been purchasing single family homes to turn into rentals. How the rental market will adjust from this point on is anyone’s guess!

Comment balloon 2 commentsJenifer Lower • August 01 2012 06:54AM

Comments

Jennifer - great info - we have also seen a move to SFR rentals in the socal area - rents are up and vacancies down. Regards Dave

Posted by David Grbich, Orange County Real Estate - 949-500-0484 (Realty One Group - www.FindCARealEstate.com) about 6 years ago

Oh I wish the rental prices dropped a bit here! They are getting so ridiculous because there's such a need for rentals now. My poor distressed sellers are in for a shock once they have to start looking for a rental for after their short sale closes. I hope that trend makes its way to South Florida.

Posted by Patty Da Silva, Davie, Southwest Ranches Cooper City, Plantation, Weston, REALTOR, Top Listing Broker (BROKER of Green Realty Properties® - 954-667-7253) about 6 years ago

Participate