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Jesse McGreevy's Blog

By Jesse McGreevy 239-898-5329 | Agent in 33928

Realtor.com to Add Apartment Listings


At a time when the rental market continues to surge, Realtor.com will soon add apartments to its online listings of single-family properties for sale and rent. 

"It's an opportunity to connect millions of people interested in the convenience apartment communities offer, while providing tools like the 'rent vs. buy' calculator, local homes for sale and connections to real estate professionals," says Eric Gramberg, vice president of Move.com, which operates Realtor.com. 

Multifamily occupancy rates have continued to rise, reaching 94.3 percent for rental spaces in the second quarter of 2011. Some of the largest growth in rental markets has been in New York and San Jose, Calif., which is nearing 98 percent, HousingWire reports. 

Young professionals, in particular, have been putting off home ownership and turning to renting until the job market improves. Young professionals under the age of 30 comprise nearly 28 percent of renters, according to the National Multi Housing Council. 

Source: “NAR Adds Multifamily to Online Listings,” HousingWire (Oct. 28, 2011)

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