Real estate markets are changing fast. The last several years have been tough for people trying to rent an apartment, but now prices are dropping, move-in specials are returning and some are even hailing a "renters' market."
Prospective tenants are being pleasantly surprised by offers of reduced rent at some apartment complexes and even reductions in leasing fees in the home rental market, according to real estate expert Jennifer Hammond, who recently visited Washington DC and was quite surprised.
"There were so many brand new rental buildings that you could get amazing incentives like 3 months free rent." And this is an area known as a "tight" housing market.
Texas is another area where, despite a strong housing market because of an influx of people from out of state, the rental market is starting to become more favorable to people looking for a place to live.
"Realtor.com actually reports a 1.7 percent drop in rental rates across the nation.
It's not just good for people who like to rent apartments but homes, too."
And for those who don't want to buy a home right now, or can't, or for those who thinking of selling a home, the prices are good too, she says.
"And then you have property insurance that has actually risen so much that renting is cheaper than buying in many, many areas across the nation."