Median Lease:  $1,100 vs $1,100, Month-over-Month flat

Average Lease:  $1,260 vs $1,276, Month-over-Month -1.25%

Avg. Days on Market:  38 vs 38, Month-over-Month flat

Rent Check Quotient™: 59% vs 48%, Month-over-Month  +11%

Both Median Lease and Days on Market (DOM) stay flat and Average Lease went under 1.25%month-over-month. It shows the rental market was a little bit soft for the month of August 2013.

Further more, the Rent Check Quotient added by 11% to reach 59% meaning number of leases is more than the number of home sales. In the healthy housing market, the RCO™ is at the range of 30% – 36%. So, the mumber of leases is a lot higher than normal market. This needs to be watched closely.

Rent Check Quotient™ (RCQ™) is derived by dividing the # of leases by the # of closed sales

All above stats are for single family homes rentals. Condominium and apartment rentals are not included.