Bright News In the Housing Market

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Real Estate Agent with Bozeman Broker Group

Rental Market Is The Housing Market's Bright Spot:At Home In Bozeman, Tim Hart Real Estate

When housing prices drop, sellers and buyers look for different options. 1.4 million households have decided to move into rental housing this year—a 4% rise of the number of tenants from last year. Home ownership has dropped 1.5% in that same time.

Most of this rental demand is being generated from young couples and newly built households who are postponing homeownership. But as always, this trend is like a pendulum and as demand for rentals increase, vacancy rates are dropping and rents rising. Look for new multi-dwelling constructions, higher priced monthly dues, and property sales on the rise.

“With rental demand rising and apartment economics improving, the multifamily sector is a positive signal for the U.S. housing industry,” writes Frank Nothaft, Freddie Mac’s Chief Economist, in the October 2011 U.S. Economic and Housing Market Outlook.

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Rainmaker
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Li Read
Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC
Caring expertise...knowledge for you!

I agree that this is a marker for an improving trend in home ownership...thanks for the post.

Oct 24, 2011 12:46 PM #1
Rainmaker
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Tim Hart
Bozeman Broker Group - Bozeman, MT
Broker

You are welcome - thanks for following!   Tim H.

Oct 24, 2011 12:51 PM #2
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Tim Hart

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