“San Jose experienced a about a 1% drop in rental rates and San Francisco, though still boasting one of the nation’s highest rents, saw the biggest y-o-y rent drop in the nation for February, decreasing 3% over the year.” Information from the great folks at RENTCafe.com
Sourced through Scoop.it from: www.rentcafe.com
San Jose singe family home and condo/townhome rentals are definitely feeling the squeeze. This is partly due to the increased number of apartment rentals coming on the market in 2016. It will be interesting to see if this trends triggers some investors to sell their rental properties. Not necessarily because of a 1% drop but equally, many bought with the strategy at selling higher. Since it is still a seller’s market in San Jose, it will be interesting to see if any investors start selling. This will help the number of homes for sale in the coming months.
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