The local rental market is still very challenging. That is a nice way of saying there are still a lot of available rentals on the market.
We are seeing a sharp increase in the number of calls on our available properties now that the holidays are behind us. Price is still the overriding consideration for these people but we have candidates at the low end, the high end and thos in between. This is good news but we are still tracking our asking prices to make sure we are in synch with the market.
The chart above shows that advertised rentals are up about 81% over this time last year. Actual estimates for vacancy rates are not currently available for single family homes in the area. However, Dr. Gondon Von Stroh is starting to collect that information for his studies/tracking of rentals and vacancies in the area. Hopefully this data will begin to filter out to us soon.
