This report features the RCQ™ (Rent Check Quotient™) which is a ratio of the number of Phoenix residential home rentals to the number of closed Phoenix home sales. Rental activity in this market has been somewhat directly related to higher foreclosure numbers, and has been moving at inversely proportional rates to home ownership numbers. So, as Phoenix rental activity increases, would-be homeowners are becoming renters. Investor activity would also have increased to provide rental property for the increased number of renters. These homes would otherwise have been owner occupied houses.
The information that has been pulled together by the Phoenix Arizona RENT Check™ statistical report comes from Phoenix residential single family home rental market data as reported by the Arizona MLS (ARMLS).
How does this related to homes in the communities of Moon Valley? Moon Valley home for sale inventory has been low. With fewer properties for sale in this North Phoenix community, there are much fewer homes available to investors which is a good sign for Moon Valley residents. Values have been steadily moving upward.
Click here to view the Valley’s latest single family home lease statistics.