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.

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

Median Lease: $1,428 – Increased from $1,400 the previous month.
Average Lease: $1,601 – Decreased slightly from $1,619 of the previous month.
Avg. Days on Market: 29 – Increased again from 28 days of the previous month.
Closed Rental: 1,992 – Increased from 1,915 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.

Thanks to snowbirds, the rental market bounced back slightly after reaching the bottom in October.

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

Median Lease: $1,400 – Decreased from $1,450 the previous month.
Average Lease: $1,619 – Decreased slightly from $1,635 of the previous month.
Avg. Days on Market: 28 – Increased again from 27 days of the previous month.
Closed Rental: 1,915 – Decreased from 1,991 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.

Starting September, after the summer peak season, the rental market became slowed down. It continues cooling down in October.

For the month of September 2018, all RENT Check indicators started going south.

Median Lease: $1,450 – Decreased from $1,495 the previous month.
Average Lease: $1,636 – Decreased slightly from $1,670 of the previous month.
Avg. Days on Market: 27 – Increased again from 26 days of the previous month.
Closed Rental: 1,991 – Decreased from 2,242 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.

After the summer peak season, June, July, and August, the rental market starts to cool down. We expect to see weaker Rent Check™ indicators to come.