According to recent data from realtor.com, median rental prices have reached their highest point ever recorded in many areas across the country. The report found rents rose by 8.1% from the same time last year. As it notes:
“Beyond simply recovering to pre-pandemic levels, rents across the country are surging. Typically, rents fluctuate less than 1% from month to month. In May and June, rents increased by 3.0% and 3.2% from each month to the next.”
Since the pandemic began, home prices have increased dramatically. In the D.C. Metro area, in counties like Loudoun and Fairfax, this has pushed out many potential homeowners for the market due to their inability to qualify adequate loan amounts.
By Joy in Market Trends with 0 Comments
According to recent data from realtor.com, median rental prices have reached their highest point ever recorded in many areas across the country. The report found rents rose by 8.1% from the same time last year. As it notes:
“Beyond simply recovering to pre-pandemic levels, rents across the country are surging. Typically, rents fluctuate less than 1% from month to month. In May and June, rents increased by 3.0% and 3.2% from each month to the next.”
Investors Return to Market As property values increase, investors plow back into the market Investors are plowing back into the market as rental prices continue on an upward trend. According to recent data, Investors bought about 1 of every 7 U.S. homes (14.9%) in the first quarter of this year. Many are seeing investment opportunity […]
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