Single Family Rentals are Going Fast!

According to the Cromford Report, the average days on market for a leased single family rental is down to 27 days. This is the lowest it has been in 14 years! This time last year it was at 40 days and the long-term average since 2001 is 48 days.
The story is a little different for condos as they are currently at 45 days on market but still much lower than the long-term average of 72 days.
The monthly rate for an average single family rental is up to $1,350 per month which is a 5.9% increase over $1,274 per month during this time last year.