Apartment Market Conditions Remain Positive According to New NMHC Quarterly Survey
The survey does hint at a possible cloud on the horizon with more than one-fifth of respondents saying that market conditions were looser over the past three months. While it’s too early to say there’s a problem, the increase in the number of condos and single-family houses in the rental market may dampen the otherwise positive outlook for the apartment industry.”
Over the long-term, however, fundamentals for the industry are extremely positive, noted Obrinsky. “Thanks to the echo boomers the children of the baby boomers – the population aged 20-34 (the prime renter group) will increase by 3.5 million. Strong levels of immigration will also create new demand for rental housing.” {visit website}
