Palm Beach County Homeowners Convert Unsold Homes to Rentals, Increasing Rental Supply
Palm Beach County is experiencing a rise in 'accidental landlords' as homeowners convert unsold homes into rental properties due to prolonged time on market and cooling buyer demand. Atlis Property Management reports that 55.9% of West Palm Beach for-sale listings sat 60+ days without going under contract, signaling a shift toward rental markets. Nationally, 2.3% of U.S. rental listings were previously for sale, a three-year high.
Topics: home sales market trends property management real estate rental market