Apartment Sector Continues to Stabilize
Conditions in the multifamily industry continue to improve, according to the latest survey by the National Multi Housing Council.
The multifamily industry trade association reports that all four indices it uses to measure multifamily market conditions showed an above 50 reading for the first time in the survey's five-year history.
This means that more respondents to the NMHC survey saw improving conditions than worsening conditions over the past three months.
Mark Obrinsky, vice president of research and chief economist, said, "The January survey results provide further evidence that the worst may be over for the apartment industry. 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." Among the survey findings, a rise in the association's debt financing index from 43 to 64 indicates "an improvement in multifamily mortgage borrowing conditions."
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