Second-quarter multifamily apartment investment conditions were mixed across the country with 14 markets up, nine markets down and two unchanged in Freddie Mac's Multifamily Apartment Investment Market Index (AIMI). The index rose 0.3% nationwide quarter over quarter and 2.2% year over year.
The results are consistent with a market working toward stabilization after significant volatility, said Sara Hoffmann, senior director of multifamily research at Freddie Mac.
"While higher mortgage rates compared with last quarter increased the cost of financing, this was offset by lower property prices and modest rental income growth," she said.
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