More Sellers Are Taking Their Homes off the Market. But Sellers aren't Giving Up

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More Sellers Are Taking Their Homes off the Market. Here’s What You Need To Know. You may be hearing that a near-record number of homeowners are pulling their houses off the market. And if that headline has you thinking,  “Wait… is something bad about to happen?”  You’re not alone. Because when people start stepping to the sidelines, it  sounds  like a warning sign that something’s coming – or that they realize something you don’t know. Here’s the thing. This trend gets spun like it means the market is about to crash. But the data tells a more practical story. What the Numbers Actually Say According to the latest data from  Redfin ,  5.5% of all listings were taken off the market in May.  And it’s true that’s almost the highest it’s been since back in March 2020   ( see graph below ):  That can sound scary. But a lot of the fear comes from how this story gets told. “ A near record number of sellers are pulling their listings ” makes a great c...
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Think Prices Have Skyrocketed? Look at Rents.

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Do any of you have rental properties?  Is it worth the effort ... repairs, tenants, etc? 


By:  Pam Boyle & Associates


Think Prices Have Skyrocketed? Look at Rents. | MyKCM

Much has been written about how residential real estate values have increased since the housing market started its recovery in 2012. However, little has been shared about what has taken place with residential rental prices. Let’s shed a little light on this subject.
In the most recent Apartment Rent Report, RentCafe explains how rents have continued to increase over the last twelve months because of a large demand and a limited supply.
 “Continued interest in rental apartments and slowing construction keeps the national average rent on a strong upward trend.”
Zillow, in its latest Rent Index, agreed that rents are continuing on an “upward trend” across most of the country, and that the trend is accelerating:
“The median U.S. rent grew 2% year-over-year, to $1,595 per month. National rent growth is faster than a year ago, and while 46 of the 50 largest markets are showing deceleration in annual home value growth, annual rent growth is accelerating in 41 of the largest 50 markets.”
The Zillow report went on to detail rent increases since the beginning of the housing market recovery in 2012. Here is a graph showing the increases:Think Prices Have Skyrocketed? Look at Rents. | MyKCM

Bottom Line

It is true that home prices have risen over the past seven years, increasing the cost of owning a home. However, the cost of renting a home has also increased over that same time period.

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