Much has been said about the low inventory of homes available for purchase. What about rentals though?
This graph is showing the total active Realtor listings for residential rental units in Monroe, Erie, and Onondaga Counties (Rochester, Buffalo, Syracuse). The two obvious takeaways from the chart are that there is a downward trend of available units and also a seasonality factor to the listings. Currently, there is a record low, and the previous year did not get much of a seasonality bump at all.
Why? Is it the same factors that are impacting sales listings? Covid-19? Legislation? Deteriorating tenant/landlord relations? You can be the judge on that.
This was originally published at thekeytorentals.com
Thank you for reading!
Based on information from the New York State Alliance of MLS's Time frame is from Jan 2016 to Mar 2021 Property Type is 'Residential Rental' County Or Parish is one of 'Erie', 'Monroe', 'Onondaga' Results calculated from approximately 9,700 listings