05/15/2009

National Multi Housing Council Survey Shows Apartment Market Still in Decline

 

A recent survey by the National Multi Housing Council (NMHC) showed that, while the apartment market conditions are still suffering from a downturn, the pace is slowing down. The survey showed that all four market indexes remained below 50, indicating worsening conditions, but they all rose from three months ago.

“This global downturn has led to the most challenging economic conditions in at least five decades, and the apartment industry is suffering like other industries,” Mark Obrinsky, chief economist at NMHC, said. “Capital remains difficult to obtain, and the sharp and continuing drop in employment, in particular, is sapping demand for apartments in markets throughout the country.”

Specific statistics revealed by the NMHC survey include that the Market Tightness Index, measuring change in occupancy rates and rents, rose from 11 last quarter to 16, and that 73 percent of survey respondents said the markets were looser (meaning higher vacancy, lower rents). Additionally, the Sales Volume Index rose from 12 to 30, the highest level in seven quarters. The Equity Financing Index increased from 12 to 29: Although 46 percent of respondents stated that they thought the equity financing conditions were worse than three months ago, this is the best reading in almost two years. And finally, the Debt Financing Index rose from 26 to 41, with 14 percent of respondents saying that now is a better time to borrow than three months ago.

For full survey results, please visit www.nmhc.org/goto/QuarterlySurvey09.

 

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When choosing a metal-clad building for your next construction project, consider Morton Buildings, Inc., and their designBUILD team, we’ll make your dream a reality.

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Wood construction is both cost and energy efficient. Check out Morton Buildings and our designBUILD team online today to discover all the benefits of post-frame construction.

We Can Help You Reduce Energy by 30%

Our mission is to help our customers manage their buildings' energy costs, improve reliability, and enhance performance while having a positive impact on the environment.
CLICK HERE to find out how.


Mitsubishi Electric’s H2i R2-Series heat pumps provide 100% heating capacity down to 0° F and simultaneous heating and cooling down to -4° F delivering year-round comfort, regardless of climate zone.

 
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