Rising Home Prices: Coming to a Market Near You | Trulia Pro Blog

Rents Keep Marching Upward

Rental demand remains strong, with rents rising 5.6% nationally year over year. One reason for this continuous climb is job growth, as the metros with the largest rent increases tend to have fast job growth, like San Francisco and San Jose. But another reason why rents keep going up is the decline in homeownership: foreclosures forced some owners to become renters, while tight credit and the weak job market put homeownership out of reach for many others. The result: rents have risen even while prices were falling, and now that prices are rising, rents are rising even faster.

Note: Rankings based on the year-over-year changes in asking rents among the largest U.S. metropolitan areas.

via Rising Home Prices: Coming to a Market Near You | Trulia Pro Blog.

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About Garry Callis - Legacy Real Estate Group - Colorado

Awesome Colorado Realtor! Check me out at www.legacyrealtor.net

Posted on May 11, 2012, in Market Conditions and tagged , , , , , . Bookmark the permalink. Leave a comment.

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