What’s happening?
Leased listings rose 5.1% above the volume in 2024, with a total of 3,957 single-family rentals leased in April, according to the report.
Along with an increase in leases signed, the average lease price increased by 1.8% year over year to $2,330, according to the report.
The number of new listings entering the market grew by 11.8% year over year, with a total of 6,038 single-family rental properties added to the Multiple Listing Service this April, according to the report.
What they’re saying
“The rise in both leased and new listings shows continued demand for rental housing,” HAR Chair Shae Cottar said in the report. “The upswing in leasing activity is influenced, in part, by would-be buyers navigating the current economic climate with a more cautious approach and choosing to rent.”
