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February Rent Increases were Largest in Four Years
Tuesday, April 21, 2020
Single-family homes now
provide half of all rental units in the U.S. CoreLogic's Single Family Rental
Index (SFRI) recorded an annual gain of 3.3 percent in rents for those homes,
the largest annual increase in nearly four years. In February 2019 the index
was up 3.0 percent year-over-year. The rate of gains peaked in February of 2016
at 4.2 percent. CoreLogic says, as the single-family
rental (SFR) market contends with the current economic shifts, we can expect a
rise-and-fall in demand in the coming months. While shelter-in-place
orders have residents hunkering down for the moment, we may see an increase in
demand for single-family rentals as people shy away from multifamily rentals in
the wake of the pandemic.
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