Fifty-seven Percent of Responding REALTORS® Report Rising Rents for Residential Properties

Higher residential rents compared to a year ago were reported by 57 percent of REALTORS® in September (55 percent in August), based on information from the REALTORS® Confidence Index survey. The data are additional confirmation of the recovery of the U.S. residential real estate markets.

Jed Smith, Managing Director, Quantitative Research

Jed Smith is Managing Director, Quantitative Research with the National Association of Realtors®. He has worked on real estate issues for the past 20 years, providing input on a variety of housing, commercial real estate, tax, and planning issues. Recently he has been involved in several international studies.

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  1. This is interesting but clearly can’t last too much longer – the new supply of rental units has exploded across the country over the past few years as developers have sought to capitalize on tighter credit underwriting standards (i.e. average FICO scores on FHA loans are still hovering in the 700 range). The rebound will be quite strong (as measured by home prices) as long as the Fed doesn’t have to move to a meaningful tightening.