Nearly half, or 47%, of the respondents to a National Multifamily Housing Council survey saw deals reprice up last month, down from the 58% who witnessed upward repricing last December and much fewer than the 83% who found that to be the case a year ago in June.
However, only one fifth or 20% of respondents reported deals repriced down, which was consistent with the last two quarters when the numbers were 21% in March and 18% in December. The numbers changed more from June of a year ago when a smaller group or 13% of respondents saw dollar repricing drop.
How much did these repricing swings translate into dollars and cents? On average, there was a 9% increase, up from 3% in March of this year and last year, 8% in December and 11% in June.
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