NMHC Survey: Apartment Boom Slows, Slightly
Apartment supply has not outpaced ravenous demand and improving economic indicators indicate a positive year ahead for multifamily, according to the National Multifamily Housing Council’s Quarterly Survey of Apartment Market Conditions. (Pictured: NMHC president Doug Bibby.) Employment and income improvement spur household formation, a large portion of which will likely be searching for rentals, says NMHC SVP of research and chief economist Mark Obrinsky. Some key survey takeaways: the market’s still fairly tight; sales volume’s less robust; equity is free flowing; and debt conditions remain favorable.