Average & Median rents decreased slightly in January 2008. Inventory has dipped and demand is very high in January traditionally. February's numbers are promising to be pretty for landlords! Absorption has decreased tremendously and with the mortgage credit crisis and valley demand for housing, it is not surprising at all!
Units Leased:
- January 2008: 1500
- December 2007: 1156
November 2007: 1452
October 2007: 1501
December 2006: 1052 - January 2007: 1262
Average Monthly Rental Rates:
- January 2008: $1500
- December 2007: $1531
- November 2007: $1493
- October 2007: $1511
- January 2007: $1295
Median Monthly Rental Rates:
- January 2008: $1200
- December 2007: $1295
- November 2007: $1200
