Climbing rents for apartments are combining with a continued decline in home prices to push once-reluctant home buyers into finally taking the plunge, say economists and real-estate agents.
Although increased buying activity from investors and second-home purchasers are also factors behind the recent pickup in home sales, real-estate agents say they are fielding more calls from anxious tenants complaining about rising rents.
"The rental market has been incredibly hot," said Ronald Peltier, chief executive of HomeServices of America Inc., which owns real-estate brokerages in 21 states.
