Is the Rental Market Slowing Down?

[Hal Cranmer]

I have a place that I am trying to rent out before June 1. I have had it on the market for a little over a week (I know it's a short time), but usually I get a lot of calls and emails of interested people right away. This time I have hardly received any. Last time I rented this place it rented in 24 hours. I post an ad on Craigslist almost every day and have 'For Rent' signs outside the house.

My question is, are people seeing the rental market start to decrease/slow down? Are rents going down? The rent I'm charging is not going up at all and it is cheaper than a lot of other ads on Craigslist for similar properties. The property is in Northeast Minneapolis very close to the U. of Minnesota. I also wonder if it's just a slow time of year because a lot of students are not looking to move until the summer?

The weird thing is that I bought another duplex in the same area in December and had it rented before I closed on the place. What gives?