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Transaction bolsters Hamilton Zanze’s presence in Kansas City.
ReadRents rose 0.6% on average in Q1 2014 and 3.2% year-over-year across the 79 largest U.S. metros, according to research firm Reis. Rents have risen 13% since the trough in late 2009.
Rental prices continue to see upward pressure from tight vacancy, with occupancy rates hovering around 96% in Q1. The cost of buying a single-family home has increased significantly due to rising interest rates, helping to keep vacancy low. The median monthly home payment is 20% higher compared to a year ago. Additionally, employment among 25-34 year olds has notably picked up, which could contribute to higher household formation levels.
Read more at The Wall Street Journal