Lease Property Update(HAR Report):
Consumers showed more interest in homes for sale than in lease properties in February. Leases of single-family homes fell 26.1 percent year-over-year while leases of townhomes and condominiums dropped 15.7 percent. The average rent for single-family homes increased 8.7 percent to $1,924 while the average rent for townhomes and condominiums increased 1.9 percent to $1,637.