Apartment Market Conditions Continue to Strengthen

Oct. 25, 2005

Senior apartment executives report higher occupancy rates for the ninth quarter in a row

According to the Washington, D.C.-based National Multi Housing Council’s (NMHC) October 2005 Quarterly Survey of Apartment Market Conditions, senior apartment executives are reporting higher occupancy rates, rising rents, increased sales volume, and equity availability for the ninth quarter in a row. Additional findings are highlighted below:

  • Two-thirds of respondents reported improved demand for apartments, indicated by lower vacancy rates, higher rents, or both. Only 2 percent reported looser conditions.
  • More than half (51 percent) of those surveyed felt that Hurricane Katrina had little impact on apartment markets.
  • The Market Tightness Index rose from 80 in July to 87 in October. This index measures changes in vacancy rates and rents and according to the NMHC, a score of 50 means more respondents saw improving conditions than saw worsening conditions over the past three months.
  • The Sales Volume Index was unchanged at a record 66. This is the 10th consecutive quarter of increasing sales volume.

To view the complete results of the October 2005 Quarterly Survey of Apartment Market Conditions, visit (www.nmhc.org/content/Servecontent.cfm?contentItemID=3667).

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