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That's not 8%. That means we went down on the list by 8 spots. So 8 other cities passed us for being more expensive. Doesn't necessarily say anything about local prices. Plus, the chart only shows 1 and 2 bedroom rentals (and 2 bedroom prices are up, not down), so I have to wonder whether they take 3 and 4 (and more) into account, because 3 and 4 bedroom homes are the majority of the non-apartment rental market around here.
As for actual first hand experience, I found September and October to be much slower months this year, we actually had a few rentals that have taken a bit of time to rent, rather than having 15 people all wanting it the day it is vacated. Part of that, though, is owners hearing that the market is very busy and demanding we list for too much, even after we advise against it. Then when it sits vacant for 2 weeks, they go back to the price that we recommended in the first place and we get 10 applications, 1 or 2 of which are actually ok, and we get it rented (we don't charge an application fee, so we get everyone, and turn down about 90% of our applicants).
Personal opinion: I think prices are stabilizing for the winter, as most landlords do not want wintertime vacancies, but I expect them to go up again in the spring.
That's not 8%. That means we went down on the list by 8 spots. So 8 other cities passed us for being more expensive. Doesn't necessarily say anything about local prices. Plus, the chart only shows 1 and 2 bedroom rentals (and 2 bedroom prices are up, not down), so I have to wonder whether they take 3 and 4 (and more) into account, because 3 and 4 bedroom homes are the majority of the non-apartment rental market around here.
As for actual first hand experience, I found September and October to be much slower months this year, we actually had a few rentals that have taken a bit of time to rent, rather than having 15 people all wanting it the day it is vacated. Part of that, though, is owners hearing that the market is very busy and demanding we list for too much, even after we advise against it. Then when it sits vacant for 2 weeks, they go back to the price that we recommended in the first place and we get 10 applications, 1 or 2 of which are actually ok, and we get it rented (we don't charge an application fee, so we get everyone, and turn down about 90% of our applicants).
Personal opinion: I think prices are stabilizing for the winter, as most landlords do not want wintertime vacancies, but I expect them to go up again in the spring.
Great. Maybe rents are becoming more affordable for people that struggle to afford them.
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