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NMHC: January Apartment Market Shows Mixed Results
January conditions in the apartment market across the nation showed mixed results, according to the National Multifamily Housing Council’s Quarterly Survey of Apartment Market Conditions for January 2021.
While the Sales Volume (53) and Equity Financing (58) indexes both came in above the breakeven level (50), the index for Market Tightness (43) indicated continued weakness and the Debt Financing index (49) showed little change.
“We are continuing to observe a tale of two markets during the COVID-19 pandemic,” said Mark Obrinsky, chief economist at NMHC. “Despite higher vacancy and lower apartment rent growth overall, this weakness has been largely concentrated in high-cost urban areas. Many suburban areas, on the other hand, continue to benefit from an influx of ex-urbanites.”
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