All four indexes of the National Multifamily Housing Council’s (NMHC) July Quarterly Survey of Apartment Market Conditions, released Thursday, remained slightly below the breakeven level of 50, the fourth consecutive quarter, indicating softening conditions. The Market Tightness (43), Sales Volume (47), Equity Financing (46), and Debt Financing (47) Indexes all improved from April, but still hovered just below 50.
The Market Tightness Index edged up from 41 to 43.
The US Apartment Market Tightness Index edged up from 41 to 43, as almost half of respondents (48 per cent) reported unchanged conditions, according to new data released Thursday. One-third (33 per cent) of respondents saw conditions as looser than three months ago, while the remaining 19 per cent reported tighter conditions.
US Apartment Market Tightness Index: 2Q 2017
This is the seventh consecutive quarterly survey indicating looser conditions – it appears supply has caught up with demand.