What you need to know
Leased listings rose 7.7% from May 2024, with 4,602 single-family rentals leased compared to 4,272 last May, according to the report.
Additionally, new listings rose 17.1% year over year, adding 973 listings to the market, according to the report.
The uptick in leases signed and listings has had a minimal impact on price. The average listing cost only increased $1 from May 2024, according to the report.
What they're saying
“The stable pricing and expanded inventory make the rental search more manageable and offers predictability in budgeting,” HAR Chair Shae Cottar with LPT Realty said via the report. “As potential homebuyers navigate some economic uncertainties, many are continuing to choose to rent for greater flexibility and affordability.”
