Industry News

Builders bullish on apartment market

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Builder confidence in the multifamily rental market surged in the fourth quarter of 2005, with strong consumer demand becoming evident in all segments, according to results of the National Association of Home Builders' Multifamily Housing Market Index (MMI), released Thursday. The same survey also found that multifamily builders do not expect consumer interest in condominiums to remain as intense as it has been in the recent past.  "A balanced and stable multifamily market offers a range of options for people who want to rent an apartment home, and for those who want to buy," said Leonard Wood, chairman of NAHB's Multifamily Leadership Board. "The reports of rising demand for rental apartments and increased apartment starts indicate that this sector of the housing market is moving toward better balance." The MMI is a quarterly, nationwide survey of multifamily builders and property owners who are asked a series of questions about current market conditions as well as their expe...