We have just released the “Elliman Report: Manhattan & Brooklyn Rentals January 2013,” the leading resource on the state of the Manhattan and Brooklyn rental markets. As always, our market reports are produced in conjunction with Miller Samuel to provide you and your clients with the most comprehensive and neutral market insight available. 

 

Although limited inventory kept rents near record levels, low mortgage rates and improving affordability continued to convert many would-be renters to first time buyers. This competition from the purchase market impacted the rental market by slowing the rapid rise in rental prices we had been seeing over the past two years. However, landlord concessions are still rare and we expect the improving economy and low vacancy rates to continue placing upward pressure on rents in the near term.

 

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at http://www.elliman.com/marketreports.