May rental market report: Available inventory and units leased jump as days on market shrink

The rental market data for the performance of investment grade rentals during the month of May is in and it offers some fascinating insight. First let's start with the biggest surprise: At the end of May, the available inventory of rental properties in the quality submarkets that we track jumped to 569 (+22%  over April) even as the units leased during the month of May increased 9% year over year (and 7% over last month). In my opinion this comes as a result of two factors. First, this is an … [Read more...]

April rental market report: Highest rents on record plus units leased soar 24%

Every year since 2007, the number of properties leased during the month of April had been 8-10% lower than the corresponding March figure. This year, the Houston rental market shattered this well-established trend. According to statistics obtained directly from the MLS for investment grade rental properties, a total of 507 single family homes were leased during the month of April. That figure represents a 24% increase year over year and an 8% jump over last month. The solid jump in units … [Read more...]