Rental units leased are still increasing year to year since 2006. August is the hottest (literally and figuratively) rental month so we shall see if the trend continues the next two months!
Units Leased:
- June 2008 1564
- May 2008: 1554
- April 2008: 1536
- March 2008: 1531
- February 2008: 1632
- January 2008: 1500
- December 2007: 1156
November 2007: 1452
October 2007: 1501
December 2006: 1052
- January 2007: 1262
Average Monthly Rental Rates:
- June 2008: $1503
- May 2008: $1483
- April 2008: $1467
- March 2008: 1342
- February 2008: 2788
- January 2008: $1500
- December 2007: $1531
- November 2007: $1493
- October 2007: $1511
- January 2007: $1295
Median Monthly Rental Rates:
- June 2008: $1275
- May 2008: $1250
- April 2008: $1250
- March 2008: 1200
- February 2008: 1200
- January 2008: $1200
- December 2007: $1295
- November 2007: $1200
Absorption Rate is stable from last month and remains a Landlord's Market at 2.3 months of inventory in the Rental Sector for the Las Vegas Valley. Maybe we will see a stabilizing in the rental market coming up. It seems to be softening every month!
Last Month's Report
If you would like to rent a home in the Las Vegas Area please call 702-966-2494 and press option 2 to speak with a rental specialist.
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