Survey results from the National Association of Home Builders (NAHB) last week showed confidence in building new apartment homes was mixed, giving a slight nod to market-rate development and less faith in low-rent units compared to the month earlier.
"Overall, rental demand remains solid," Sean Kelly, EVP of LNWA in Wilmington, DE and chairman of NAHB's multifamily council, said in prepared remarks. "Rising mortgage interest rates mean low vacancy in multifamily rental."
"Additionally, recent US Treasury guidance related to American Rescue Plan funding creates clarity in the production pipeline for apartments supported by the Low-Income Housing Tax Credit."
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