2 reasons that 77% of renters are renewing their leases now - by far the highest since we began tracking this.
1- Rent renewal rates are increasing, but rents on vacant units are increasing even faster, so people renew.
2 - Home buying costs have soared, so people keep renting. pic.twitter.com/pNBGYRPf3h

— John Burns (@johnburnsjbrec) September 2, 2022