Rents are Skyrocketing

An analysis by Market Watch revealed the cost of rent was 3.8% higher than a year ago. This is the strongest yearly price gain in almost 10 years.

A report released earlier this month by AxioMetrics revealed rents are continuing to increase in 2016.   It revealed a 3.7% increase in effective rents in the second quarter of 2016 as compared to the same period last year.  Rent increases were positive in 49 of the top 50 markets, with Houston being the exception.

This graph illustrated the effective rate of increase since 2009:

Real Estate Bottom Line

With rising rents and mortgage interest rates at historic lows, now is a great time to buy a home.  Don’t hesitate to reach out to me to discuss your situation.