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Tag Archives: Rent prices

California Cities Post Highest Single-Family Rent Increases

California cities claimed seven spots on a top 10 list of cities experiencing the highest rental price increases for three-bedroom, single-family homes. RentRange observed changes in rent prices for three-bedroom, single-family homes located in cities with at least 25,000 residents. The data firm found the greatest growth in La Quinta, California, where rents increased 35.75 percent from December 2011 to December 2012.

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Survey: Consumers Maintain Positive View Toward Housing Market

In Fannie Mae's housing survey for January, consumers maintained their expectation for growth in home and rent prices and also expressed more optimism toward the economy. The January 2013 survey found 41 percent of consumers believe homes prices will rise in the next 12 months, down from 43 percent in December, but up from 30 percent a year ago. As prices continue to climb, more consumers also said now is a good time to sell. The percentage rose to 23 percent in January, up from 21 percent in December and 11 percent a year ago.

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Multifamily Sector to Remain Strong with a Few Hiccups in Some Markets

The recent housing crisis and the broader economic climate have led to a strong multifamily housing market nationwide. Marcus & Millichap's recently released National Apartment Report promises another year of expansion in the multifamily market as ""the alignment of powerful demographic and economic trends continues to fortify nationwide apartment performance."" The firm ranks 44 markets based on several forward-looking indicators. Nationally, the firm expects rents to increase between 4 and 5 percent this year as the national vacancy rate reaches 4.3 percent.

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Research Points to Strong Multifamily Sector This Year

The industry seems to agree the multifamily housing market is recovering well and will continue to show positive signs this year. Both Fannie Mae and the National Association of Home Builders report low vacancies and climbing rents for 2012 and anticipate a strong market in 2013. Fannie Mae expects asking rent prices to increase about 2.5 percent this year and expects vacancy rates to increase to about 6 percent, keeping in line with historical norms.

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Analytics Firm Expresses Skepticism Toward Home Price Recovery

As home prices continue to increase, spectators and analysts have concluded the housing market is now in recovery mode. But, one analytics firm has remained unconvinced and expects to see a trend where prices rise and fall periodically as investor demand waxes and wanes. ""Some commentators suggest that investor-driven home price appreciation could spur demand among housing consumers, which will in turn bring about a broad-based and sustainable recovery in the nation's housing markets,"" wrote Quinn W. Eddins, director of research at Radar Logic. ""Maybe, but we are skeptical of this theory.""

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Rents Continue to Rise, Albeit Slightly Slower

Rents continue to rise but at a slightly less accelerated pace, according to Carrolton, Texas-based RealPage, a software provider for rental communities. After rents for new leases rose 4.8 percent in 2011, rents rose 3 percent in 2012. While lower than the previous year's rate, the increase in 2012 remained above the average of 2.5 percent seen over the past 20 years. Apartment rents did experience some decline during the recession, falling 4 percent, but they have now been on the rise for three years, according to RealPage.

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Trulia Ranks Top Markets for Price Recovery in 2012

The year 2012 was a big year for certain markets as prices grew by leaps and bounds after seeing declines in 2011. On Thursday, Trulia released a report revealing changes in asking prices in 2011 and 2012 among the 100 largest metros. After measuring improvements over the two years, Trulia ranked Las Vegas as the top turnaround market based on its recovery in asking prices. Trulia also found nine out of the top 10 turnaround markets were located West and Southwest, and the top six saw double digit increases.

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Zillow: Home Values Rise for 13 Straight Months, Rents Fall Flat

Home values still rose into November, marking more than a year of monthly price gains, while national rents fell flat, according to data from Zillow. On a monthly basis, home values inched up by 0.6 percent from October, with the Zillow Home Value Index at $156,200 for November. For 13 straight months now, prices have displayed monthly gains. As home values rose, national rents averaged a slight 0.1 percent month-over-month drop, falling to a value of $1,278 in November, according to the Zillow Rent Index. Over a one-year period, rents still increased by 4.5 percent.

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Study: Renting Makes More Sense than Buying in Manhattan

With fluctuations in rental and owner markets over the past few years, it can be difficult to determine whether one is better off renting or owning. In Manhattan, renting is currently the more financially viable option, according to a new study by the Federal Reserve Bank of New York.

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