All four indexes of the National Multifamily Housing Council’s (NMHC) July Quarterly Survey of Apartment Market Conditions 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.
“All four indexes are below 50 but rising, suggesting that the softening is less wide-spread than in previous quarters,” said Mark Obrinsky, NMHC’s SVP of Research and Chief Economist. “Despite some softness at the high end of the apartment market—due to construction having finally ramped up to the level needed—demand for apartments will continue to be substantial for years to come.”
The Market Tightness Index edged up from 41 to 43, as almost half of respondents (48 percent) reported unchanged conditions. One-third (33 percent) of respondents saw conditions as looser than three months ago, while the remaining 19 percent reported tighter conditions. This marks the seventh consecutive quarter of overall declining conditions.
The Sales Volume Index increased from 30 to 47, just shy of the breakeven level of 50. Twenty-seven percent of respondents reported higher sales volume than three months prior, compared to 33 percent that reported lower volume.
The Equity Financing Index increased four points to 46, with almost a quarter (24 percent) of respondents believing that equity financing was less available than three months prior. Sixteen percent thought that equity financing was more available compared to three months ago.
The Debt Financing Index increased from 41 to 47, showing a similar trend to the equity market. While a quarter of respondents (25 percent) reported worse conditions for debt financing compared to three months prior, another 19 percent disagreed, believing conditions had become more favorable.
About the Survey:
The July 2017 Quarterly Survey of Apartment Market Conditions was conducted July 10-July 17, 2017; 123 CEOs and other senior executives of apartment-related firms nationwide responded.
Related Stories
| Aug 11, 2010
10% of world's skyscraper construction on hold
Emporis, the largest provider of global building data worldwide, reported that 8.7% of all skyscrapers listed as "under construction" in its database had been put on hold. Most of these projects have been halted in the second half of 2008. According to Emporis statistics, the United States had been hit the worst: at the beginning of 2008, "Met 3" in Miami was the only U.S. skyscraper listed as being "on hold". In the second half of the year, 19 projects followed suit.
| Aug 11, 2010
Structure Tone, Turner among the nation's busiest reconstruction contractors, according to BD+C's Giants 300 report
A ranking of the Top 75 Reconstruction Contractors based on Building Design+Construction's 2009 Giants 300 survey. For more Giants 300 rankings, visit http://www.BDCnetwork.com/Giants
| Aug 11, 2010
Skanska completes $74 million Harbor Towers project six months ahead of schedule
Skanska USA Building Inc. announced the completion of a $74 million rehabilitation project at Harbor Towers, a 40-story luxury condominium complex comprising two towers located on Boston’s waterfront. Skanska served as Program Manager and oversaw the repair and replacement work that dramatically enhanced the reliability, cost-effectiveness, and energy efficiency of the buildings’ MEP systems.
| Aug 11, 2010
Best AEC Firms of 2011/12
Later this year, we will launch Best AEC Firms 2012. We’re looking for firms that create truly positive workplaces for their AEC professionals and support staff. Keep an eye on this page for entry information. +
| Aug 11, 2010
Manitoba Hydro Place, Tornado Tower among world's 'best tall buildings,' according to the Council on Tall Buildings and Urban Habitat
The Council on Tall Buildings and Urban Habitat last week announced the winners of its annual “Best Tall Building” awards for 2009, recognizing one outstanding tall building from each of four geographical regions: Americas, Asia & Australia, Europe, and Middle East & Africa. This year’s winners are: Manitoba Hydro Place, Winnipeg, Canada; Linked Hybrid, Beijing, China; The Broadgate Tower, London, UK; Tornado Tower, Doha, Qatar.
| Aug 11, 2010
Call for entries: Building enclosure design awards
The Boston Society of Architects and the Boston chapter of the Building Enclosure Council (BEC-Boston) have announced a High Performance Building award that will assess building enclosure innovation through the demonstrated design, construction, and operation of the building enclosure.
| Aug 11, 2010
CampusBrands Inc., NYLO Hotels team to launch student housing franchise brand
Which would you choose: the cramped quarters, thin mattresses, and crowded communal bathrooms of dormitory life or a new type of student housing with comfortable couches, a game room, fitness center, Wi-Fi in every room, flat-screen televisions and maybe even a theater?
| Aug 11, 2010
Portland Cement Association offers blast resistant design guide for reinforced concrete structures
Developed for designers and engineers, "Blast Resistant Design Guide for Reinforced Concrete Structures" provides a practical treatment of the design of cast-in-place reinforced concrete structures to resist the effects of blast loads. It explains the principles of blast-resistant design, and how to determine the kind and degree of resistance a structure needs as well as how to specify the required materials and details.
