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NMHC Quarterly Survey Reveals Slight Decline in Apartment Markets
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All four indexes of the National Multifamily Housing Council’s (NMHC) July Quarterly Survey of Apartment Market Conditions remained slightly below the breakeven level of 50, the fourth consecutive quarter indicating softening conditions.
“All four indexes are below 50 but rising, suggesting that the softening is less widespread than in previous quarters,” said NMHC’s researcher and Chief Economist Mark Obrinsky. “Despite some softness at the high end of the apartment market, due to construction having finally ramped up to the level needed, demand for apartments will continue to be substantial for years to come.”
- Market Tightness: 43; edged up from 41; seventh consecutive quarter of overall declining conditions
- Sales Volume: 47; increased from 30
- Equity Financing: 46; increased four points
- Debt Financing: 47; increased from 41
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