Leads, Rents, and Market Times: Is the Rental Market Finally Steadying?
Market times, leads per on-market period, and rent reductions are still headed in the wrong direction. But unlike our last half dozen market updates, there’s reason to be hopeful.
The rate of the drop in leads per on-market period in Q1, Q2, Q3, and Q4 has slowed significantly, as has the rate of rent reductions.
And anecdotally, we’re hearing cautious optimism among property owners and managers. Let’s get into the numbers.