Apartment market conditions continue to improve across the board, according to the National Multi Housing Council's (NMHC) latest Quarterly Survey of Apartment Market Conditions.
“Demand for apartment residences continues to rise, even as the overall economy remains hampered by the aftermath of the housing bubble,” said NMHC Chief Economist Mark Obrinsky. “For the fifth time in the last six quarters, all four survey measures of market health showed improvement over the prior three months. Markets are tighter, debt and equity capital are more available and sales volume is rising.”
“In fact,” Obrinsky continued, “all four indexes were at or above 70. This is only the fourth time since the survey began in 1999 that has happened, and three have been since July 2010, a sign of the breadth of this recovery.” (Note: A reading above 50 indicates improving conditions.)