Lease Property Update
Activity among lease properties was down sharply in September. Single-family home rentals fell 35.4 percent while leases of townhomes and condominiums dropped 44.5 percent. With the decline in volume came a decline in rents. The average rent for single-family homes slid 4.0 percent to $1,812 while the average rent for townhomes and condominiums dipped 1.0 percent to $1,584.