In Q2, The Freddie Mac Multifamily Apartment Investment Market Index (AIMI) turned negative for the first time in 11 years. But that turn didn't last long.
In Q3, the AIMI rose by 1.9%. Freddie Mac says the change reflects mixed net operating income and property price growth after the pandemic drove negative NOI growth in the previous quarter. On an annual basis, AIMI rose by 2.0% as mortgage rates decreased by 44 bps.
Last quarter, 19 markets experienced quarterly growth while six metros experienced a quarterly contraction, according to Freddie Mac.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
