There’s no denying that one of the strongest segments of the real estate industry today is multifamily – both from a property sales and real estate agent perspective. Investors who look for properties in the right market at the right time, and agents who choose to focus on this arm of the market, understand it is a very lucrative part of the real estate industry.
Now, there's even more good news.
Recently, the National Multi-Housing Council (NMHC) reported that sales volume is up, debt and equity are more available and markets are tighter. “Apartment market conditions continue to improve across the spectrum,” said NMHC Chief Economist Mark Obrinsky. “Indeed, the average for all four NMHC indexes set a new record for the second quarter in a row. Demand for apartment residences has substantially increased thanks to modest improvements in the jobs market and the continuing decline in homeownership rates. While the level of transactions remains subdued compared with the boom years of 2005-2007, activity is gradually growing from the low levels of late 2008-early 2009.”
What say you? Is Multifamily ahead of all other proeprty types?
FYI… Full survey results are posted at www.nmhc.org/goto/quarterlysurvey.