What We’re Seeing Right Now
Early 2026 Leasing Trends at 901RES and Across Memphis
Based on data we track continuously at 901 Real Estate Services, we’re starting to see a noticeable shift in activity compared to the slower winter months. We touched on this in our last newsletter, but we’re now seeing even more movement as we move further into spring.
Properties that had very little interest just a few weeks ago are now seeing multiple showings scheduled at once, and in some cases, multiple applications coming in at the same time. That kind of momentum can feel sudden, but it’s a pattern we typically see this time of year as renter activity picks up.
At the same time, while rental inventory across Memphis remains elevated, we have seen our own available inventory begin to decrease over the past few months as leasing activity improves.
More Activity, But More Selective Renters
While leads and showings are increasing, renters are still taking their time when it comes to making decisions. Instead of a showing immediately translating into an application, we’re seeing renters take more time between touring a property and submitting an application.
They’re comparing more options, weighing pricing more carefully, and looking closely at overall value — not just rent, but condition, location, and amenities. So while a property may see a spike in interest, that doesn’t always translate into an immediate lease, especially if there are comparable properties with more desirable features.
This is part of a more balanced, tenant-aware market, and understanding that behavior helps set realistic expectations as we work through the leasing process.
Another Shift We’re Seeing
We’re also seeing an increase in what the industry often refers to as “accidental landlords” — homeowners who initially intended to sell but are now entering or re-entering the rental market.
Recent data about Memphis’s housing market from Realtor.com highlights why:
“Active inventory surged 22.5% year-over-year, the median list price dropped 13.1%, and homes averaged 74 days on market — longer than both last year and the national pace.”
In February, active listings reached 2,124 homes, with 706 new listings entering the market.
For many homeowners, that combination — more competition, longer selling timelines, and pricing pressure — is leading to a pivot toward renting instead.
If you’ve had your property listed for sale, or are considering making that shift, timing and pricing strategy matter more than ever. This applies to both sales and rentals, where pricing strategy is critical. As we’re seeing now, activity is picking up, and getting your property positioned correctly while momentum is building can make a big difference.
What’s Happening Behind the Scenes
IA lot of what drives leasing success doesn’t always happen visibly. This is especially true in a market like the one we’re in now.
Behind the scenes, we are constantly evaluating and refining your property’s listing. That can include updating photos, adding virtual staging, or rewriting descriptions to better align with what renters are actively searching for.
We also strategically refresh listings when changes are made, such as after a price adjustment. This allows the property to reappear as a new listing on third-party sites, rather than continuing to show extended days on market. A property that has been on the market for 30+ days frequently goes “stale” as far as new interest.
Smarter Scheduling & Better Data
TAnother change we’ve made for listings at 901RES is that we’ve transitioned to ShowMojo for scheduling and lead management. This transition is already improving both the renter experience and our internal tracking.
From a renter’s perspective, the process is more streamlined, easier to navigate, and makes scheduling a showing more seamless. This ease helps convert more leads into actual showings.
On our side, the system gives us much deeper insight into how listings are performing. We now have access to detailed reporting, including days on market, showing-to-application conversion rates, and performance comparisons across similar properties.
It also allows us to gather consistent feedback from prospective tenants through simple post-showing surveys. Because the format is quick and easy, we’re able to collect more responses, which gives us real-time insight into what renters are seeing and where adjustments may be needed.
The system also helps nurture leads automatically through follow-up communication and recommendations for similar properties, keeping potential renters engaged even if their first showing isn’t exactly what they’re looking for.
Timing Still Matters
With increased activity comes increased opportunity, but also a greater need for timely decision-making.
When interest picks up, the window to secure a qualified applicant can be shorter. Being able to respond quickly to applications, feedback, or recommended adjustments can make a big difference in how that momentum translates into a signed lease.
We understand that recommendations like price adjustments, cosmetic updates, or added flexibility aren’t always easy to hear. Every suggestion we make is rooted in one shared goal: getting your property leased as quickly and successfully as possible.
The Big Picture
Overall, we’re encouraged by the increase in activity we’re seeing as we move into the spring season.
Homes are leasing, and while Memphis remains a competitive, high-inventory market, we’re continuing to see clear signs of movement. The path to getting a property leased may look a little different than it did a few years ago, but the opportunities are there with the right positioning and strategy.
We’re continuing to track these trends closely and make behind-the-scenes adjustments every day to help position each property as competitively as possible.