Reporters discuss bombshell story on’s CEO

An exclusive interview with the Forbes reporters who recently wrote a bombshell article about CEO Vishal Garg’s controversial workplace culture.

Untying business growth from the housing market cycle

Lenders need to be able to grow their business in a way that is not linear and is not tied to the market cycles – leveraging automation technology can help.

How lenders can engage borrowers earlier in the buying process

Before the application stage, lenders need an effective strategy that ties all the home buying stages together and the right tools to support the process.

A home shopper’s guide to navigating a competitive market

Here is a home shopper's guide to navigating bidding wars and low housing supply.

CoronavirusReal Estate

Rental market is already seeing effects of coronavirus

Online searches for apartments have dropped

As more and more people across the country are under stay-at-home orders, the rental market has quickly seen the effects.

As many open houses have been canceled or moved to virtual, the number of movers has also slowed down.

According to Zumper’s National Rent Report for April, Google search volumes for apartments for rent were down between 10% and 35% last week in its top cities, while long-term inventory dropped by about 12% last week.

“Though renters have hit a pause on their moves right now, as no one is going to open houses, we have an optimistic view for the long-term as the rental market will not be impacted as deeply as industries like travel and hospitality,” the report said.

Short-term inventory, defined as a minimum lease of less than four months or an option for month to month, has grown about 20-25% year over year, Zumper said.

“It seems short-term property owners originally renting out to traveling guests are now marketing their properties to longer-term flexi-stays in response to the collapse in demand from travelers,” the report said.

Out of the top 10 cities Zumper analyzes, Seattle had the largest year-over-year decline, with one-bedroom rent falling 8.5%. Meanwhile, the markets with the biggest monthly rent declines, all down around 5%, were mainly on the east coast.

Overall, the report said that national one bedroom rent increased 0.2% to a median of $1,221 last month, while two bedrooms grew 0.6% to $1,471. On a year-to-date basis, one and two bedroom prices are up 0.4% and 1.1%, respectively.

San Francisco continued to rank as the most expensive market, with one-bedroom rent remaining the same, at $3,500, and two-bedrooms dropping 0.9% to $4,540. Year over year, one bedroom rent is down 5.4%.

Most Popular Articles

The housing market outlook for 2021

After an unprecedented year, MBA Chief Economist Mike Fratantoni says there’s no place like home. Here is his 2021 housing market forecast.

Dec 02, 2020 By

Latest Articles

MBA adds four to its Residential Board of Governors

The Mortgage Bankers Association announced the new members of its 2021 Residential Board of Governors and the Chairs of the Residential Committee.

Dec 04, 2020 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please