Saturday, January 28, 2012

Will High Rents Push People to Buy Homes?

With Marcus & Millichap's National Apartment Report showing that the U.S. average for asking rents in 2011 came in at $1,061 a month, housing analysts believe more apartment tenants will look to own.

Some expect the average monthly rent to rise to as much as $1,101 this year, which Paul Bishop of the National Association of REALTORS® says should prompt more potential home buyers to "think twice before renting."

Source: "High Apartment Rents Seen Pushing People to Buy Homes," Investor's Business Daily (Jan. 27, 2012)

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