ShowMojo Recently out together their mid-year thoughts based on the mid-year data. Here's what we learned:

1. The advantage of suburban and rural rental properties is gone. Immediately following the pandemic, folks were looking for rentals with more land, and less amenities, opting for a space for pandemic puppies and hobbies. In 2023, markets are trending back towards the amenities of city living again.
2. A cooling is happening and homes are sitting longer. We've all started to feel the cooling and now we've got to adjust. Properties are no longer renting for the highest dollar at record speeds. We're having to choose between high rent rates and time on the market. Be more willing to make fast adjustments than in years past. We can still list high, but it's best to not dawdle when reacting to slow interest.
3. The market will continue to adjust rent rates. Get ahead by adjusting early and not being rate proud. Also look for alternative benefits! Are washer/dryer units an option? What about a move-in special?

It's time to be creative and try new things! The goal is to be seen and to get folks to complete an application!