Sound Real Estate information for the mid-peninsula of San Francisco: the Silicon Valley.
Thursday, July 26, 2012
Rents increase, more than home prices.
Rent increases outpace modest home price rises (nationwide)...
Despite widespread national asking price rises, rent increases outpaced price increases in 22 of the 25 largest rental markets, according to the Trulia Rent Monitor. Nationally, rents were 5.4-percent higher in June than they were a year ago, and rents increased year-over-year in 24 of the 25 largest rental markets – all except Las Vegas. Furthermore, rent increases accelerated between March and June in most rental markets, with rents in San Francisco rising 14.7 percent year-over-year in June from 10.9 percent in March.
I was noting in one of my May's blogs that rents were up 9.4% in San Jose.
Home price rises are not so modest, by the way, locally (- but then, ditto for rent increases).