Single Family Home Rentals Increase Nationwide
We have been digging through our internal search data lately and we've added Q3 2008 to our library of rental search trends. One of the most notable trends is the national increase of searches for homes for rent. 
As the graph above illustrates, there is a Quarter by Quarter increase in the national average, as well as in several major cities in the U.S.
The interesting anomaly is in Phoenix, which witnessed a decrease in searches for home rentals. We included Phoenix because it had displayed a particularly high search rate for single family homes for rent. In a previous blog post regarding Phoenix rental trends, we had focused on the local foreclosure rate as a driving factor.
If we can explain the high rental home search rate in Phoenix in virtue of its struggling for sale market, then perhaps Q3 data indicates that the Phoenix for sale market is bottoming out.
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One Response to “Single Family Home Rentals Increase Nationwide"
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November 3rd, 2008 at 9:40 pm
That just looks really odd for Phoenix. Perhaps it is because of the sun birds and rentals swap more? I have not idea.