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Why is the Rental Market in the Hamptons So Slow This Year?

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All over the Hamptons, landlords and agents are frustrated about the slow start to the summer rental season. A reader writes,

This is the first time in 17 years of renting my house I will not have a lease done by Memorial Day. Something is up out there--ask all the agents. Lots of rental inventory. Worst rental season in ages yet the economy is at its best. Off the record, one agent told Curbed, "This year has not been great so far. I think it's a combination of the weather and that Memorial Day is so early." Some agents think it's due to oversupply: a lot of the people who have bought have put their homes up for rent, while others think the weak euro means that more people are planning to vacation in Europe rather than the Hamptons this summer.

Have you noticed a downturn? If so, to what do you attribute it?