W303 has suspended its free listings for apartments, houses, and rooms for rent. Landlords and property managers were previously able to quickly and easily post an advertisement for their rental property on W303 and Renters could quickly search rentals, view complete details, and contact the property manager for free.
We provided this free service from 2004-2010 in 10 major U.S. rental markets.
For Rent
October 25, 2007 – Hot Rental Markets in the Wake of Housing Slump
Many landlords, property managers, and private owners are enjoying a hot rental market in the wake of the subprime lending crisis and the ongoing housing market slump. Landlords are finding a rental market ready to bear higher monthly rents and more competition for available units.
While the housing market downturn and lending crisis have negatively impacted many, the economy is weathering the storm and property managers and private owners are the beneficiaries. With the onslaught of sub-prime mortgage defaults, many homeowners are being forced back into the rental market, increasing the overall demand for units.
The effect can be seen most prominently in mid-major markets like Denver and those areas with the highest mortgage default rates. Larger metropolitan areas like New York City exhibit more stability to market fluctuations in the short-run and this results in less rental market price fluctuation.
The Wall Street Journal reported that September new home sales rebounded slightly, however, August figures were revised lower than previously reported. Sales of single-family homes showed an increase of 4.8% in September, according to the Commerce Department. The revised August figures showed a 7.9% decline after revision.
keywords: rental, market, prices
