Rentals Are Rising
A report published by RealPage in November of 2019 indicates that 2019 is the second highest apartment leasing season ever, accounting for 281,800 units being rented. This marks the highest renting season since 1997.

High rental rates were seen across the country, with even southern markets participating in record-shattering seasons.

Dallas, Texas had the largest demand, with 16,500 rental units being absorbed. Dallas’s occupancy rate right now stands at 95.6% as of the third quarter. Fort Worth also saw a great deal of activity, nearly doubling its average performance since 2000, reporting 3,600 units being rented in the last 6 months.

Across the country multi-family vacancy levels fell to 3.6%, down 40 basis points from 2018, which represented the lowest level since 2000, according to CBRE.

If you have any questions about this information or title insurance, please contact Ralph Aponte: 732.914.1400.

Counsellors Title Agency, www.counsellorstitle.net, founded in 1996, is one of New Jersey’s most respected title agencies, serving all 21 New Jersey counties with title insurance, clearing title, escrow, tidelands searches, and closing and settlement services for commercial or industrial properties, waterfront properties and marinas, condominiums, townhouses or residential single family homes. Counsellors Title also features its own Attorney Settlement Assistance Program™ [ASAP], which is an individual resource customized to fit the needs specifically of real estate attorneys, including, Documentation, Preparation, Disbursement of Funds, Attendance at Closing, HUD Preparation or Post-Closing Matters.

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