Report: Rents Rising Faster Than Home Values
Trey Garrison reports: "Rents for residential housing in the United States grew at their fastest pace in two years in April, surpassing home values, according to Zillow’s latest real estate market report."
In fact, "[r]ents outpaced home values in 20 of the 35 largest U.S. housing markets." Garrison interprets the data as a mixed message: on one hand the for-sale market is stabilizing, but on the other hand the rental market is "verging on crisis."
The data also reveals that rental growth has outpaced home value growth ince summer of 2014 in the cities of Boston and San Francisco.
A press release from Zillow explains more of the implications found in the data, including the incentive presented by the trends to push more people into the home buying market.