As the market for new and resale homes continued its sluggish streak in many areas of the country, consumer demand for apartments grew for the 15th consecutive quarter, according to a recent survey. The multifamily housing sector's strong conditions continue to attract equity investors with the availability of equity capital for apartments also rising for the 15th consecutive quarter, according to the National Multi Housing Council's April quarterly survey. "The apartment markets continue to enjoy largely favorable conditions," noted NMHC Chief Economist Mark Obrinsky. "Although both owners and managers are well aware of the 'shadow rental market' -- condos and single-family homes originally intended for sale but being rented out instead -- any supply spillover from the for-sale market has...
Get Inman via Facebook Messenger
Our top headlines delivered once a day.