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Thursday, April 27, 2023

NMHC: "Apartment Market Continues to Loosen"

by Calculated Risk on 4/27/2023 12:00:00 PM

Today, in the Calculated Risk Real Estate Newsletter: NMHC: "Apartment Market Continues to Loosen"

A brief excerpt:

From the NMHC: Apartment Market Continues to Loosen, Transactions Pull Back Further Amidst Economic Uncertainty
“Apartment operators reported an uptick in vacancies and concessions this quarter,” noted NMHC’s Vice President of Research Caitlin Sugrue Walter.
The Market Tightness Index came in at 31 this quarter—below the breakeven level (50)—indicating looser market conditions for the third consecutive quarter. More than half of respondents (51%) reported markets to be looser than three months ago, while only 14% thought markets have become tighter. Meanwhile, around a third of respondents (34%) thought that market conditions were unchanged over the past three months.
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