Higher residential rents were reported by 54 percent of Realtors®, as reported in the May Realtors® Confidence Index. Lower rents were reported by 11 percent of Realtors®. Constant rents were reported by 16 percent of Realtors®. In recent months the majority of respondents are reporting annual rent increases, with lower rents becoming much less common. The continued trend of rising rents increases the value of homeownership.