We still see a stable rental market remaining inline with previous years. The average rent is still at historical highs with demand for rentals remaining with-in traditional norms for the past couple of years. The cart illustrates with the purple line representing average rent in 2012 compared to the blue representing 2013
We do not anticipate any drop in demand as we see demand for sales fall back to seasonal norms in August. The chart below illustrates how the demand significantly diverged from previous years and you can see the units Sold 2013 exceeded previous years significantly, starting in March and ending in August. FULL COPY OF THE CHART
Despite the spike in sales we did not see a fall in demand for rentals. We seem to benefit from the overall exuberance with average rents reaching new highs in 2013.
For the complete Chart please CLICK HERE
About The Author
Eric Guggenheimer - SFR, ARM ® » Principal Broker, Certified Property Manager, IREM, ARM, NARPM, NVAR, NAR, VAR
