Dallas Area Residential Sales Report for June – The Rental Market
I don’t normally report on the rental market, but I thought it might be interesting to see how it’s doing in light of the down homes sales reports. The numbers I am about to report are for homes, condos, and townhouses combined.
Rentals were up 11% in June as compared to last June. The averages rental price rose 2% while the median rental price was flat. Not much movement there. Pending rentals rose 19%. The number of new listings increased 4%. The active rentals climbed 6%.
It; sort of looks like so people decided to rent instead of buy.
Average Rent: $1,856
Median Rent: $1,700
Pending Rentals: 2,496
New Listings: 5,062
Active Rentals: 5,184
Information Provided by The Real Estate Center
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