I have noticed that there seems to be more vacancies, e.g., more units listed for rent. And rental units are staying longer on the market.

We’ve had a tenant move out because they wanted a yard, but was able to get it rented. In that same community where normally very few rentals, there are now 5 units listed for rent.

Similarly in OC, the community we rented before we bought our house had 1 unit for rent 7 years ago, now has 15 units listed for rent. Some have sat there for 2 months.

In our current community we saw a house listed for rent and sat there for almost 6 weeks. Where as 2 years ago, it listed for the same price and was gone in a week.

Don’t know if Rich is reading, but I would love to have a graph of number of rentals units by month for this year.