MarketingMarkets & Economy

Single-family rents level off as home prices rise in March

Trulia: Trend change means some investors will decide to put homes back on the market

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Rents on single-family homes flattened in March, suggesting that the more than four million homes that were converted to rentals following the housing bust have reached a supply level that has finally caught up with consumer demand, according to a report released today by real estate search and marketing site Trulia.               Inman News reporter Teke Wiggin talks with Trulia Chief Economist Jed Kolko about what stabilizing rents may mean for real estate agents Rents on single-family homes rose a mere 0.1 percent year over year last month, while apartment rents rose 2.9 percent, according to Trulia's Rent Monitor index. Overall, the average rent in March increased 2.4 percent on an annual basis. At the same time, asking prices on for-sale homes in March rose at a clip of 7.2 percent on an annual basis, according to Trulia's Price Monitor index. The results of the indexes appear to reflect a sharp reversal of a hou...