Magazine article Mortgage Banking

Survey Shows Continued Improvement in Apartment Sector

Magazine article Mortgage Banking

Survey Shows Continued Improvement in Apartment Sector

Article excerpt

ACCORDING TO THE WASHINGTON, D.C.--BASED National Multi Housing Council's (NMHC's) January 2004 quarterly Survey of Apartment Market Conditions, conditions in the apartment market are improving after several quarters of increasing vacancy rates.

For the first time in the NMHC survey's nearly five-year history, all four of its indexes used to measure changes in apartment market conditions--the Market Tightness Index, the Sales Volume Index, the Equity Financing Index and the Debt Financing Index--edged above 50. A score above 50 means more respondents saw improving conditions than saw worsening conditions over the past three months.

"The January survey results provide further evidence that the worst may be over for the apartment industry," said Mark Obrinsky, NMHC vice president of research and chief economist. "There have been several signs of improvement in several months; the question now is whether these improvements will be sustained. A brighter employment picture is still the key to improving the demand for apartment residences."

The Market Tightness Index, which reflects changes in vacancy rates and rent increases, remained above 50 for the second quarter in a row. The index had not been above 50 for two years. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.