Lease Property Update(HAR Report):
Consumer demand for lease properties waned in May while rent figures rose. Single-family lease homes fell 26.8 percent year-over-year and leases of townhomes and condominiums declined 3.5 percent. The average rent for single-family homes jumped 10.6 percent to a record $2,025 while the average rent for townhomes and condominiums increased 8.5 percent to $1,716.