The United States real estate industry has truly found its firm footing since it hit rock bottom in 2012. According to Realtor, aside from home buying, renting is also growing rapidly as it pushes upward very aggressively across the nation since it hit the lowest in 2009. In the second quarter alone, the increase this year is 3.6% higher than last year. The growth is steadily at 4% since the 2009 tragedy.
The hottest cities and states for the renting industry are San Jose, California and Denver Colorado. In San Jose alone, the rise in the industry is at 7% from the second quarter of 2014 averaging at least $1,951 a month, while San Francisco, who is also the top grosser for the real estate race, is at 6.8% approximately at $2,316.
This year, there are 44,000 units finished in the United States during this quarter and there are still 230,000 to be completed within the year. Playing the numbers, there are roughly 150,000 new units that could be finished in the last six months of this year.
On the other hand, the state that was considered as the toughest on the industry is New York. The renting experts are still seeing the same avenue but they are still waiting for something to happen and they are not losing any hope on The Big Apple.
In related news, this year, according to RealtyToday, this year was real estate's strongest so far since hitting the bottom in 2012. Based from the first three weeks of June, prices has increased to $233,000 a 2% jump from May and 7% leap from last year.
The numbers additionally helped the nation's top land organization to focus the most sizzling business for the month of June. California was again the champion amongst them. It overwhelmed the rundown with a large portion of the nation's 20 most smoking land markets. Broker clarified it in light of the state's tight supply and solid economy. San Francisco took the top spot from Denver while Vallejo and Santa Rosa made it on the top five of the list.
