Q3 2025 Leasing Trends: Pricing, Section 8, and Showing Speed

If you felt like your team was doing more but moving slower this summer, you weren’t alone.

While lead count and conversion rates had gone up slightly, so did DOM, indicating that there might be a lot of activity, but not necessarily any movement in number of signed leases.

As Peter Lohman’s recent poll showed, 79% of property managers said leasing felt somewhat or much slower compared to last summer.

In this quarter’s data, we looked closer at what might be driving that slowdown, and what property managers can do to increase leasing speed and find a competitive edge in the current market.

We saw 3 prominent themes emerge:

• Accepting Section 8 has no measurable impact on leasing speed.

• Pricing right the first time drives up early lead volume by 40%

• Renters move fast — showings scheduled beyond 3 days drop sharply in completion

Download the Q3 report here.

Accepting Section 8 has no impact on leasing speed

After last quarter’s Q&A, we analyzed whether allowing Section 8 housing vouchers affects Days on Market. The short answer: it doesn’t.

Across properties where accepting vouchers is optional*, there was no meaningful difference in leasing speed between those that did and those that didn’t.

For most property managers, this means the decision to accept vouchers should come down to operational fit, not expectations of faster leasing. If your client suggests opening up to Section 8 because traffic is low, the data shows it likely won’t move the needle.

*Analysis is based on properties in jurisdictions that do not require property managers to accept housing vouchers.

Pricing right the first time still wins — and marketing volume proves why

The pricing data this quarter reinforces a key theme from our Q2 report: properties that need price reductions rent 10–11 days slower on average. Those that don’t need a reduction close in roughly 20 days; those that do take over 30.

That difference compounds when you look at marketing volume. Nearly 40% of total leads arrive within the first seven days of listing, and then drop off sharply. Week two brings only half as many leads, and by week three, almost none.

In other words: you only get one chance at a first impression.
Price too high, and you’ll miss that early visibility window that listing sites give to new properties, a 40% boost you can’t get back later.

Renters want to see properties fast

The showing data this quarter was striking.

For accompanied showings, the average successful appointment was scheduled just 2.6 days in advance. For self-guided showings, it was 0.68 days — about 16 hours.

And the farther out a showing is booked, the more likely it is to be canceled. Showings set more than a week out see a steep drop in completion rates. 

This ties directly back to renter expectations. When prospects find a listing they like, they want to see it immediately. Any delay is usually caused by limited showing availability on the property manager’s side, not the renter’s willingness.

Keeping availability within a 7–10 day window (or offering self-guided options) consistently leads to faster conversions and fewer cancellations.

Q3’s data pointed to one unifying theme: speed and preparation is key.

Pricing correctly before launch, making the most of the first week’s exposure, and giving renters quick, flexible access all directly shorten Days on Market.