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The Significance of Rental Price Increases for Real Estate

Posted on July 23, 2019 by Admin

According to Inman, “Rents in the US just keep going up and up…..The average rent was up 3.2% year-over-year in June. Last month also saw the biggest average rent increase in more than a year….”

In a nutshell, it’s a perfect time to buy rather than rent. Reasons why include:

  • Very low interest rates
  • A real estate market that has “softened” over the last year more in the direction of buyers
  • Tax breaks that come with buying and owning
  • Control over the place you call home
  • Realizing the “American Dream”
  • Building equity/apprecation over time (a house can be like a big piggy bank)
Zeroing in on Sonoma County, here’s what we have:
And take note: the “doldrums” of summer is the perfect time to visit open houses, get pre-approved for a loan, and make an offer. The market is typically “slow” this time of year, with more inventory and less bidding, so you are more likely to get something you want at a price that works.
Need help finding the right place? Give us a call. We are here to help you find your dream home!
Mark Stevens & Associates, 707 322 2000
Graphs courtesy of RentCafe