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Since shelter-in-place ordinances began in February 2020, most condo markets have suffered a decline in transaction volume, and while median prices have remained close to pre-COVID levels, sales volume reductions indicate potential price declines.
New data tracked a significant decline in households paying rent, which comes on the heels of other research highlighting distress in the multifamily segment.
Both move-in and move-out rates in August lagged 2019 activity in a time of uncertainty, and more tenants used credit cards to pay rent, according to MRI Software's monthly report.
"Although it is too early to accurately predict the pace of recovery, the US industrial market is well positioned to weather the current disruption," Cushman & Wakefield states in a new report.