901RES Newsletter – August 2024
Memphis Rental Market Updates While many cities in the US have continued to see a strong rental market, other cities (like Memphis) are cooling down. Increased Supply Causing Drops in Rents According to Berkadia’s Q1 2024 Multi-Family report, the Downtown/Midtown Memphis submarket alone has 4,723 units under lease-up, construction, or planned. This oversaturation of available rentals has not […]
901RES Newsletter – May 2024
2024 Q2 Market Updates Here’s the long and short of it — rental properties nationwide are sitting on the market longer and leads are at a historic low. Time on the Market is at a High March 2024 was the worst March rental market nationwide since ShowMojo began tracking this data. Unfortunately, this trend is […]
901RES Newsletter – February 2024
Rental Vacancy Rate Vacancy rates on rental properties throughout the United States reached 6.6% in the third quarter of 2023. Q3 in 2022 was 6.0%, while Q2 in 2023 was 6.3%. Source However, Memphis and the surrounding areas have seen a much higher than average vacancy rate: Source This makes the average vacancy rate within […]