NMHC: "Apartment Market Continues to Loosen"

Today, in the Calculated Risk Real Estate Newsletter: NMHC: "Apartment Market Continues to Loosen"

A brief excerpt:

Apartment market conditions continued to weaken in the National Multifamily Housing Council's (NMHC) Quarterly Survey of Apartment Market Conditions for October 2023, as the Market Tightness (21), Sales Volume (24), Equity Financing (18), and Debt Financing (9) indexes all came in well below the breakeven level (50).
...
• The Market Tightness Index came in at 21 this quarter—below the breakeven level (50)—indicating looser market conditions for the fifth consecutive quarter. Nearly two-thirds of respondents (64%) reported markets to be looser than three months ago, while only 6% thought markets have become tighter. Meanwhile, 27% of respondents thought that market conditions were unchanged over the past three months.

There is more in the article. You can subscribe at https://calculatedrisk.substack.com/