Steve Welty

Issue# 76

November 2025

Happy Saturday, Housing Heroes!

Thanksgiving was this past Thursday, and before we dive into the market update, I just want to say:

we’re grateful for you.

This community of owners, clients, and partners is what makes Good Life what it is, and we appreciate you.

Back in August, in our newsletter titled “Why Some Rentals Are Sitting Longer This Summer,” we explored a surprising trend: the typical summer leasing frenzy had started to cool. Homes that used to rent in days were taking longer, and renters had noticeably more choices.

Now, with the release of the Q3 2025 RentEngine Leasing Data & Trends Report, we can see that what we observed locally was part of a much broader pattern across the country.

What We’re Seeing in the Market

According to the report, 79% of property managers nationwide reported slower summer leasing compared to last year.

This aligns perfectly with what we flagged in August - more homes sitting longer than expected, even when the season is usually at its peak.

Days on Market Continue to Rise

Here’s what the national numbers show:

26.8 days - average Days on Market
15.4 days - Days on Market after the most recent price change

These numbers echo exactly what we were experiencing in August: not a collapse, but definitely a small cooling.

Why This Is Happening

Interestingly, demand itself hasn’t dropped.
Lead volume, inquiries, and overall renter activity remain steady.

The real driver? Pricing.

Many homes — including across California went to market priced too high.
And renters, with more options and less urgency, simply waited for reductions.

In August, we wrote:

“Renters suddenly have a few more choices, and they’re taking their time.”

The Q3 report validates that across thousands of leases nationwide.

What the Data Says About Today’s Market

1. Pricing Accuracy Is Everything

Overpriced homes typically start 5% above market, need 2+ price reductions, and end up costing owners 11+ extra days of vacancy — about $750–$760 in lost rental income for the average home.

This is exactly why we shifted from 7-day pricing adjustments to a more strategic 10–14 day window.

2. The First 7 Days Decide Your Results

The report shows:

Nearly 40% of all leads arrive in the first week
Lead volume drops sharply after Day 7

This confirms what we’ve been preaching:
Your launch strategy matters more than ever.

3. Renters Are Shopping After Hours

The trend we were noticing earlier in the year is now unmistakable:

57.8% of inquiries happen after business hours
49.5% of showings are scheduled while offices are closed

This is why self-showings and automation are outperforming traditional models.

4. Self-Guided Showings Are Taking Over

Nationwide:

53% of all showings are self-guided
Lockbox showings have a higher completion rate than accompanied tours (52% vs. 36%)

And 52.8% of renters choose showing times outside business hours.

5. Section 8 Acceptance Doesn’t Slow Leasing

The report found:

27.3 DOM for homes that accept vouchers
27.8 DOM for homes that don’t

A difference of just 0.5 days - basically nothing.

How We’re Adapting (and How We Help You Win)

Pricing With Real Precision: No more “test high and see what happens.” This market rewards accuracy, not optimism.
Maximizing the First 7 Day: We’re doubling down on pro photos, 3D tours, and premium listing placements - because the launch window is make-or-break.
Leveraging Self-Showings & Automation: With nearly half of all showings booked outside business hours, fast access is essential.
Encouraging Strategic Upgrades: Small improvements - paint, fixtures, landscaping, AC make a big difference in a slower market and remain tax-deductible.

Final Thoughts

The slowdown we wrote about in August wasn’t a blip it was the early signal of a nationwide shift toward a more balanced rental market.

The good news?
Balanced markets reward well-run rentals - the ones that are priced right, presented well, and easy for renters to tour.

Great homes are still renting fast. Others just need a smarter strategy.

What Are You Seeing Out There?

Did your rentals sit a bit longer this summer or fall?
Did pricing tweaks or upgrades help?
Are you noticing more after-hours activity?

Reply and let me know - I’d love to hear your firsthand perspective.

Thanks again, and I hope you had a warm and restful Thanksgiving.

Have questions about managing your property?

Our team proudly serves San Diego, Orange, and Riverside Counties. Schedule a call with us today, and let’s chat about how we can guide you through every step of your property management journey.

Schedule a call