Apartment sector thrives amid single-family downturn

In stark contrast to the single-family residential sector, which is suffering from its worst downturn since the Great Depression and a 10-month backlog of supply, conditions in the apartment sector remains strong, according to the National Multi Housing Council's latest Market Trends report.

"Apartment owners exercised great restraint during the housing boom," NMHC Chief Economist Mark Obrinsky said in a prepared statement. "As a result, they have escaped the oversupply problems plaguing the single-family sector."

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