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News you can use Nationally rents up 5.6... but what about the Az market

From: Barbara J.
Sent on: Friday, December 7, 2012 9:07 AM

 

Greetings everyone, dont forget to RSVP for the Jan 5th meeting.  Let me know if you need a new project to work,  or if you have a property you need to list. 

New listings

<A HREF="Click" _mce_href="http://www.flexmls.com/link.html?x5gcml4xwxt,12,1">Click">http://www.flexmls.com/link.html?x5gcml4xwxt,12,1">Click to view listing(s)</a>

<A HREF="http://www.flexmls.com/link.html?x5fnydhuete,12,1">Click to view listing(s)</a>

 

Rents Up 5.6% Year-over-Year, But Prices Catching Up in Largest Markets

Nationally, rents rose 5.6% year-over-year, outpacing the national price gain of 3.8%. But, remember, price gains are now uneven, with prices in the biggest metros up 5.4% year-over-year. In fact, even in some markets with the biggest rent gains nationally, prices are zooming ahead of fast-rising rents–including Denver, Seattle, and San Francisco. Across the largest 25 rental markets, rents are rising faster than prices in only 11 markets, and prices are rising faster than rents in the other 14. That means in most of the largest rental markets, homeownership is getting less affordable relative to renting.

Y-o-Y Rent Increases vs. Y-o-Y Asking Price Gains

#

U.S. Metro

% change
in rents,
Y-o-Y,
Nov 2012

% change
in asking prices,
Y-o-Y,
Nov 2012

1

Houston, TX

16.8%

2.3%

2

Oakland, CA

11.6%

10.5%

3

Miami, FL

10.8%

7.6%

4

Denver, CO

9.0%

12.4%

5

Philadelphia, PA

8.9%

-0.8%

6

Seattle, WA

8.3%

8.8%

7

Minneapolis-St. Paul, MN-WI

7.8%

7.1%

8

Chicago, IL

6.9%

-3.1%

9

New York, NY-NJ

6.6%

0.3%

10

San Francisco, CA

5.8%

9.5%

11

Boston, MA

5.7%

3.2%

12

Portland, OR-WA

5.1%

6.7%

13

Los Angeles, CA

5.1%

2.8%

14

Atlanta, GA

5.0%

6.0%

15

Baltimore, MD

4.7%

1.2%

16

Dallas, TX

4.4%

0.8%

17

Riverside-San Bernardino, CA

4.1%

9.1%

18

Tampa-St. Petersburg, FL

3.4%

7.4%

19

Orange County, CA

3.2%

7.7%

20

San Diego, CA

2.8%

5.4%

21

Washington, DC-VA-MD-WV

2.6%

6.4%

22

Phoenix, AZ

2.3%

26.9%

23

St. Louis, MO-IL

1.2%

1.7%

24

Sacramento, CA

1.2%

5.0%

25

Las Vegas, NV

-0.7%

13.7%

NOTE: Largest 25 rental markets provided by Trulia

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