Multifamily Plays Bigger and More Important Role in Market Based on NMHC Index Results
The latest National Multifamily Housing Council Index confirms a tougher market, with higher vacancy rates and slower rent growth. Three key metrics in the survey—Market Tightness, Equity Financing, and Debt Financing—are down, but the Sales Volume Index is up. The first quarter saw a notable increase in deal flow, with 21% reporting more sales, compared to just 6% in January. NMHC notes that factors like low-interest rates and a shortage of homes for sale are keeping more people in the rental market, driving up demand for multifamily housing and job growth. Overall, this highlights the growing importance of multifamily housing in today’s market. Find the NMHC Quarterly Survey (April 2024) insights here.
