Lease Property Update(HAR report)
Consumers that weren’t buying homes in January were renting properties at a brisk pace. Single-family home rentals shot up 14.5 percent year-over-year while rentals of townhomes and condominiums rose 5.6 percent. The average rent for single-family homes ticked up 1.7 percent to $1,782 while the average rent for townhomes and condominiums increased 5.9 percent to $1,598.