More good news! Apartments.com recently reported that its site has shown that more Americans are conducting apartment searches in the first quarter of 2010 versus previous years. While the rental industry continues to face challenging times, Apartments.com has experienced unprecedented growth in Web site traffic and renter leads to advertisers January through March of this year.
Success in real estate investing is all about jobs — and we can hope these numbers mean that more people are working, and that more employed people want a place to live on their own — that empty nesters are on the rise as children and relatives who were forced back home due to the economic challenges of the last few years are feeling more confident.
Typically, the peak season for the rental industry extends from April to August. However, activity levels from just the first three months of 2010 mirror that of peak rental season. In fact, Apartments.com recorded 5.1 million visits in March 2010, making it the second most visited month in the Web site’s 12 year history. Previous record breaking traffic and lead months have occurred during the traditional peak rental season months of June and July.
If this is the case, perhaps there is a rebound in multifamily in the offing? What do you think?