As the United States real estate market continues to evolve, the rental sector is experiencing challenges of its own. The rental housing vacancy rate for the third quarter 2014, as reported by the U.S. Census Bureau, is 7.4 percent. This is especially concerning, as this sector is vitally important for many transferees, especially those on short-term assignments The low vacancy rate affects the timing of the entire rental process and what companies may need to consider in terms of employee support.
The current decreased availability of rental units means that individuals have to be prepared on a number of fronts: having credit reports accurate and up-to-date, as well as being prepared to make quick decisions, are among the tips offered in the latest Cartus U.S. Market Watch. Cartus offers a comprehensive, nationwide rental assistance program that features the services of rental specialists who adhere to the highest performance standards. Cartus’ Market Watch series also provides brief looks at key markets and charts on leading market trends.
Meanwhile, according to Reuters, many prospective home buyers are returning to the market as interest rates and home prices stabilize and regulators propose more relaxed rules on mortgage lending. New rules proposed would allow Americans to buy homes with down payments as low as three percent. This may entice renters to become homeowners.
Read more in the latest Cartus U.S. Market Watch.