Apartment Buildings

An increasing number of people in the US are seeking apartments for rent, according to a report from Apartments.com and it’s sister site, ApartmentHomeLiving.com.

Both sites have posted record growth over the first half of 2010, and more leads were generated in the second quarter of 2010 than any other quarter in the past 12 years.

The report did not address how the increase relates to the current economic crises.  With the soaring unemployment rate and the collapse of the housing market, it’s likely that the unemployed and under-employed are seeking lower cost housing solutions.

Over a million homes may be foreclosed on this year, according to the AP. 528,000 homes have already been repossessed this year. Unemployment stands at 9.5%, and in July more than a million people will have their unemployment benefits run out.

The report goes hand in hand with a survey done by apartments.com early this year, which found a 15% increase in the number of renters who said they were planing on moving during the first half of 2010.  The increase in activity on apartments.com seems to be evidence that the survey results were accurate.