Are you are wondering if it might still be a good market to consider buying some properties as an investment to rent out? Based on year end reports, it seems that it can still be considered to be a good market for rentals, if you are landlord.
Recent reports showed that 2013 had the most residential rentals that were rented and closed through the Multiple Listing Service (MLS) ever – or at least since 2001, when the reporting began. In 2013 more than 43,000 rentals closed. This number is up 13.6% from 2012. Typically there are half as many closed rentals per month as closed residential sales. But right now the percentage of closed sales to closed rentals is 49%.
Below is a chart that shows rentals through the years. Note that this information does NOT include rentals that are rented by owners, or individuals who are not utilizing the MLS. Also the numbers do NOT include vacation rentals.
If you are thinking you want to add to your investment portfolio of rental properties, contact us and let us know your needs.