“April Condominium Market Circumstances Present Enchancment”

by Calculated Threat on 4/15/2021 02:57:00 PM The Nationwide Multifamily Housing Council (NMHC) launched their April report: April Condominium Market Circumstances Present Enchancment Condominium market situations confirmed enchancment within the Nationwide Multifamily Housing Council’s Quarterly Survey of Condominium Market Circumstances for April 2021, because the trade begins to see indicators of optimism. Whereas the Gross


by Calculated Threat on 4/15/2021 02:57:00 PM

The Nationwide Multifamily Housing Council (NMHC) launched their April report: April Condominium Market Circumstances Present Enchancment

Condominium market situations confirmed enchancment within the Nationwide Multifamily Housing Council’s Quarterly Survey of Condominium Market Circumstances for April 2021, because the trade begins to see indicators of optimism. Whereas the Gross sales Quantity (77) and Fairness Financing (68) indexes each got here in above the breakeven stage (50) for the third consecutive quarter, the index for Market Tightness (81) signaled tighter situations for the primary time since October 2019. The Debt Financing index (44) indicated weaker situations.

“We’re lastly seeing enchancment in most markets across the nation,” famous NMHC Chief Economist Mark Obrinsky. “Whereas gateway metros are nonetheless typically dealing with decrease occupancy and lease ranges in comparison with a yr in the past, situations now seem like on an upward trajectory. Alternatively, many Solar Belt markets proceed to see substantial lease progress and power in fundamentals.”

“Following what we noticed as an inflection level final quarter, with a majority of respondents (53 p.c) indicating market situations have been unchanged, two-thirds (67 p.c) of respondents this quarter noticed tighter situations of their residence markets. We transfer ahead with cautious optimism, as vaccine rollout is effectively underway and there may be hope that every one residents will have the ability to return to work quickly.””


The Market Tightness Index elevated from 43 to 81, indicating tighter market situations for the primary time in six quarters
. Two-thirds (67 p.c) of respondents reported tighter market situations than three months prior, in comparison with solely 5 p.c who reported looser situations. Twenty-eight p.c of respondents felt that situations have been no completely different from final quarter.

emphasis added


Click on on graph for bigger picture.

This graph reveals the quarterly Condominium Tightness Index. Any studying above 50 signifies tighter situations from the earlier quarter. 

This means market situations tightened in April, after being very weak for 5 consecutive quarters, and particularly weak within the April and July studies for 2020.



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