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Apartment Markets Continue to Lag

“The big increase in multifamily starts in 2015 and 2016 is finally filtering through to the marketplace on a broad basis,” says Mark Obrinsky with the National Multifamily Housing Council.

By Paul Bubny | Updated on October 24, 2017

NMHC's Mark Obrinsky Obrinsky notes that the market is “headed into a seasonally slow leasing period with new deliveries easing upward pressure on rents and occupancy rates in many markets.”

WASHINGTON, DC—The second quarter’s comparatively narrow spread among the four indexes that comprise the National Multifamily Housing Council’s Quarterly Survey of Apartment Market Conditions widened somewhat in Q3. Although the Market Tightness (37), Sales Volume (45) and Equity Finance (46) Indexes remained below the breakeven level of 50, the Debt Financing Index rose above 50 for the first time in five quarters.

“The apartment market is headed into a seasonally slow leasing period with new deliveries easing upward pressure on rents and occupancy rates in many markets around the country,” says Mark Obrinsky, NMHC’s chief economist. “The big increase in multifamily starts in 2015 and 2016 is finally filtering through to the marketplace on a broad basis.”

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