For the month of August 2018, all RENT Check indicators indeed reached the plateau.

Median Lease: $1,495 – Remained at $1,495 level as previous month.
Average Lease: $1,670 – Decreased slightly from $1,679 previous month.
Avg. Days on Market: 26 – Increased again from 25 days of the previous month.
Closed Rental: 2,242 – Surprisingly, this indicator increased from 2,203 homes the previous month.

Rent Check Quotient™: 3:10 – Rental supplies remains flat as last month.

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

Every summer, June, July, and August are the peaks of the rental market whereas the housing market starts to cool down. We expect to see weaker Rent Check™ indicators to come.