The weekly Billings Rental Trends Report analyzes three key data points: active listing growth, renter lead growth, and average renter leads per property. The report is updated weekly with reporting starting at the beginning of Q2 of 2020.
Billings Rental Trends Highlights for the Week of September 7th, 2020
- Billings is back up to 0% increase week over week in active listings.
- Renter lead growth posted a 13% increase week over week, a little less than the previous week, but still in the positives.
- The average number of leads per property in Billings is inching up again, ending the week at nine from eight the previous week.
The TurboTenant Rental Trends report includes three critical rental market indicators. Our first data set is the total active listings for each week. This analysis looks at the change in the number of active listings in each location on a week over week basis beginning the week of April 6th and ending on Sunday, September 6th. Our second data point is total renter leads. Here we analyze the change in the number of renter leads each location reported on a week over week basis. Our third data point is the average number of renter leads each property receives. Again, we analyze the reported change on a week over week basis. This data point brings together the two before it and gives us a good idea of how supply vs. demand is trending.
Markets We Analyze
We include analysis of 24 major rental markets throughout the U.S. Our goal is to cover the largest rental markets while also adding smaller markets throughout the midwest regions. While the data points reported on for each city remain the same, what will differ by location are the shelter in place orders, the timing, and degree in which the city shut down, as well as re-opening timelines. Each area was also affected to a greater or lesser degree, by the number of COVID-19 cases, and our analysis aims to gauge that impact.
You can also view our monthly report here.