Rents Outpace Home Values in Apriladmin / 0 Comments /
If you are on the fence about whether it’s smart to stop renting and buy a home, the latest housing report from Zillow may give you a nudge toward homeownership. The report reveals that rents grew at their fastest rate in two years last month surpassing home value growth. Industry experts worry that the increasing cost of rent may actually make it more difficult for renters to afford a home when they are ready to buy. Zillow Chief Economist Dr. Stan Humphries said, “More income going to rent means less going to savings for a down payment and other costs, keeping renters renting longer and feeding into the high demand that is contributing to rising rents in the first place.”
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