November 2, 2016
For the 13th month in a row, rental-home metrics in Abilene, TX continued to lag on a year-over-year basis. During September 2016, rentals sat, on average, for 37 days before a lease was signed, according to data from the North Texas Real Estate Information System. In September 2015, rental houses were leased within 27 days of coming to the market.
As the rentals slowed, the rates increased by $27 from August 2016. Rent per square foot did fall by 2 cents in the same periods, however, the houses coming to the market were also 83 square feet larger than those in August.
It could be that the number of bedrooms is contributing to the lease slow-down. During the past year, two-bedroom houses rented in 32 days, and three-bedroom houses remained on the market for 34 days. Four-bedroom units leased in 36 days.
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Tags: Market report