Industry News

Survey shows apartment sales slowing

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The apartment market is strengthening, according to a quarterly survey by the National Multi Housing Council, a group that represents apartment owners, developers, managers and financiers. The council's January 2006 Quarterly Survey of Apartment Market Conditions found that fully 70 percent of respondents reported improved demand for apartments, measured by lower vacancy rates, higher rents or both. For the past four quarters, about 5 percent or less of respondents have noted looser conditions, the council reported, which "suggests that there are very few markets around the country that are seeing conditions worsening." The survey's Market Tightness Index came was at 83, which is the second-highest figure ever, the council reported. The highest, a score of 87, was recorded in October 2005. This is the 10th consecutive quarter of improving demand. An index reading above 50 indicates that, on balance, apartment markets around the country are getting tighter; a reading below 50 indicate...