Renters are finally setting their sights on homeownership, according to an analysis released by credit reporting agency TransUnion on Thursday. In Q1 of 2017, a whopping 55 percent of all home shoppers were non-homeowners or renters.
The share of renter home shoppers represents a marked uptick over previous years. In Q1 2016, half of all shoppers were non-homeowners or renters. In the same period 2015, only 45 percent were.
According to Mike Doherty, Senior Vice President of Rental Screening Solutions at TransUnion, this trend will likely continue over the coming years—and multi-family property owners should brace for the impact.
“The rental market has seen sustained growth for the last several years, but occupancy rates have flattened from their…