Housing Market Intelligence, Property Management

ARMLS RENT Check™ – Dec, 2016

For the month of Dec 2016, all RENT Check indicators showed low momentum during the closing month of 2016. This is not surprising yet we expect to see gains in all area starting 2017.

  • Median Lease: $1,275 – Slightly decreased from $1,295 previous month.
  • Average Lease: $1,444 – Slightly decreased from $1,464 previous month.
  • Avg. Days on Market: 37 – Increased from previous 34 days.
  • Rent Check Quotient™: 3 : 10 – Remained flat as 3 : 10 last month.
  • Closed Rental: 2,109 – Increased from previous 1,986 homes.

Rent Check Quotient™ (RCQ™) is the ratio of closed rentals and closed sales.

Cap rates and Cash on Cash are still around 3% – 4% yet be careful about the potential mortgage interest rate hike.

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