ARMLS Rent Check™ – December, 2018

Saturday, January 19th, 2019 azrealtycom

For the month of December 2018, all RENT Check indicators continued weakening.

Median Lease: $1,450 – Increased from $1,428 the previous month.
Average Lease: $1,611 – Increased slightly from $1,601 of the previous month.
Avg. Days on Market: 31 – Increased again from 29 days of the previous month.
Closed Rental: 1,738 – Decreased from 1,992 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.

Due to the continuous holidays and the reduced availability, rent prices came back up firmly but volume dropped while DOM increased.

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