Apartment Markets Improve But Still Subpar

Obrinsky notes that “demand for apartments will continue to be substantial for years to come.”

WASHINGTON, DC—All four indexes of the National Multifamily Housing Council’s latest quarterly survey of apartment market conditions remained below the break-even level of 50 for the fourth consecutive quarter, thus indicating continued softening conditions, NMHC said Thursday. However, all four indexes represented an improvement over the previous survey, conducted this past April.

Posting the biggest improvement was the Sales Volume Index, which rose from 30 in the previous survey to 47 in July’s survey, conducted earlier this month among 123 senior executives of apartment-related firms. Twenty-seven percent of respondents reported higher sales volume than three months prior, compared to 33% reporting lower volume.