Apartment Owners Remain Bullish

MORNING COFFEE:
Latest national sentiment survey of apartment owners by the National Multi Housing Council:

The survey’s Market Tightness Index slipped slightly to 54. While this was the lowest level in three years, it is nonetheless the 14th consecutive quarter in which the index was above 50. In other words, demand for apartments (measured by lower vacancy rates, higher rents, or both) has been improving for 14 consecutive quarters and continues to do so. Nearly one-third (29 percent) of respondents reported tighter market conditions compared to three month ago. In most markets, however, conditions were generally unchanged, according to 49 percent of respondents. Just 21 percent reported seeing market conditions as looser.

“Conditions remain favorable for the apartment industry across the board,” said Mark Obrinsky, NMHC’s Chief Economist. “The survey does hint at a possible cloud on the horizon with more than one-fifth of respondents saying that market conditions were looser over the past three months. While it’s too early to say there’s a problem, the increase in the number of condos and single-family houses in the rental market may dampen the otherwise positive outlook for the apartment industry.”

To read more CLICK HERE

And, some great housing links from Noah HERE

Housing Bubble and Real Estate Market Tracker