SoCal rents rise for 6th straight month – Irvine Real Estate – Irvine Homes for Sale

by Robert Mack on March 19, 2011

in Latest News, Sellers

Rents in Southern California — at least, as measured by the local version of the Consumer Price Index — were rising in February at a 1.3% annual rate, according to the Bureau of Labor Statistics.

That rise compares to an increase at a 1.1% annual rate in the previous month. It was the sixth consecutive month of year-over-year increases and the biggest jump since July 2009 when rents were rising at a 1.7% annual rate.

In other slice of the local housing CPI …

  • Homeowners’ expenswe moved up at 0.1% annual rate last month vs. -0.7% for all of last year.
  • Household energy expense moved up at 4.9% annual rate last month vs. 7.4% for all of last year.
  • Electricity expense moved up at 9.5% annual rate last month vs. 5.2% for all of last year.
  • Natural gas expense moved down at 7.6% annual rate last month vs. 13.4% for all of last year.
  • Household furnishings and operations expenses moved down at 2.3% annual rate last month vs. -3.5% for all of last year.

Overall housing expense rose at 0.6% annual rate last month vs. -0.5% for all of last year

Posted on Irvine Orange County Real Estate Market News

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