Welcome to the UtahsBestRE.com Blog

2015-12-02 15:37:31
The Residential Rental Market Heading into 2016

 

The Residential Rental Market Heading into 2016 | Keeping Current Matters

Below are quotes from experts as well as industry reports & articles that cover the residential rental market in the U.S.

The experts…

Zillow Chief Economist Svenja Gudell:

'Make no mistake: Despite this recent slowdown in rental appreciation, the rental affordability crisis we've been enduring for the past few years shows no signs of easing, especially as income growth remains weak. It will take a lot more supply, and a lot more renters-turned-homeowners, to fully reverse this.”

Lawrence Yun, Chief Economist of the National Association of Realtors

“Rents and home prices are expected to exceed income growth into next year because of the insufficient creation of new home construction and the detrimental impact its inadequacy continues to have on housing costs in several markets.”

David Brickman, Executive Vice President of Freddie Mac Multifamily

'We know rents are rising faster than incomes, and now we have data to show that many renters don't have enough to pay all their debts each month, which is forcing them to make tradeoffs, such as cutting spending on other items.”

The reports and articles…

Zillow's 2016 Housing Market Predictions

“Rising rents won't let up in 2016, and will continue to set new records. The next year will bring the least affordable median rents ever.”

2015 rent.com Rental Market Report

“68% of property managers predict that rental rates will continue to rise in the next year by an average of 8%”

CNBC

“The primary reasons cited for the latest rises were increasing demand and low inventory. Vacancy rates for rental housing nationally ped to a 20-year low of 6.8 percent in the second quarter…Rents and occupancies are currently hovering at historic highs as supply isn't keeping up with demand.”

 Bottom Line

If you are one of the many renters debating a home purchase, meet with a real estate professional in your area who can show you your options, before your rent goes up!

 
Blog Archive
2017-07-14 10:45:41
Home Buying Myths Slayed!

2017-07-05 14:09:47
First time home buyer, how do I apply for FHA?

2017-06-14 15:40:15
The Impact Your Interest Rate Makes

2017-05-30 13:03:34
5% Down With No PMI?

2017-05-16 14:47:50
Do You Know the Cost of NOT Owning Your Home?

2017-05-03 09:39:31
What is Mortgage Insurance?

2017-04-26 12:59:38
Real Estate Mogul: Here’s Why You Should Buy

2017-04-21 15:06:52
Slaying Home Buying Myths

2017-04-10 14:19:27
Buying this Spring? Be Prepared for Bidding Wars

2017-03-30 10:37:12
What Are the Experts Saying about Mortgage Rates?

2017-03-21 15:41:25
4 Great Reasons to Buy This Spring!

2017-03-14 11:13:11
7 Steps to Staying Mentally Sharp After 60

2017-03-03 13:11:18
Do You Know How Much Closing Costs Will Cost You?

2017-02-24 11:13:16
Do You Know the Real Cost of Renting vs. Buying?

2017-02-16 15:27:56
First Comes Love… Then Comes Mortgage?

2017-02-09 14:26:15
Preparing Your Home for a Loved One with Alzheimer

2017-02-01 10:20:45
DIY Safety Tips for Seniors

2017-01-24 14:29:26
Is This the Year to Move Up to Your Dream Home? If

2017-01-16 14:20:50
Modifications to Make Aging-in-Place Safe

2017-01-10 13:48:59
You Need a Professional on Your Team When Buying

2017-01-03 12:32:48
Inadequate Inventory Driving Prices Up

2016-12-27 11:17:52
The Fed Raised Rates: What Does that Mean For You

2016-12-15 10:14:33
Building Your Family’s Wealth

2016-12-07 11:03:40
Buying is Now 37.7% Cheaper Than Renting in the US

2016-11-30 11:44:03
Why Are Mortgage Interest Rates Increasing?

Click here to see ALL articles.


Comment on this Article

Your Name:
Your Email:
Comments:
Verify:  Please enter the numbers shown to help eliminate spam.