Although the student population keeps the rental market going in Gainesville, specifically with condos and apartments, the slowing of the housing market means single family homes are in higher demand than before. With this change in the rental landscape, property managers are seeing homes have a low turnover rate between tenants. This is great for Gainesville property management businesses. However, there is a downside to the demand to rent single family homes. It means no one is buying them. This trend has persisted for awhile but it seems nothing will change in 2015. Sales of new homes are down 2% in November and sale of existing homes down 6.1% in November as well. As mortgage rates continue to go down, there is hope the market may go back up. Until that time though, single family homes are going to extremely popular with renters.
Read more: Property Managers Face Housing Slowdown as 2015 Begins