Are you sitting down? If not, find a seat. Because this quarter’s national leasing market update isn’t pretty.
We’re going to talk through some interesting charts below. But, (spoiler alert) no matter where we looked, days on-market, leads per on-market period, and rent reductions, it’s all going the wrong way.
No, it’s not the rental apocalypse. Market times are almost as bad as 2020 in the teeth of pandemic-induced lockdowns. However, let’s remember that while we were holding our collective breath through those months, the four horsemen never did come riding in. That’s the good news.
We’re doing something completely different with this week’s ShowMojo Newsletter. We have gobs of rental data in ShowMojo. We’re seeing a couple of major trends breaking. We feel compelled to share.