According to a recent survey conducted by the National Multi Housing Council (NMHC), the apartment industry is improving on all fronts.
For the sixth consecutive quarter, NMHC's Quarterly Survey of Apartment Market Conditions reported an upturn in every sector for national apartment markets.
According to the survey, the apartment markets are tighter than they were three months previously. The tightness of an apartment segment is determined by how many vacancies are listed in the market and how much the rents have increased.
NMHC reported that 55 percent of local markets have experienced increased tightness since April. The Market Tightness Index (MTI) bumped up from 74 to 76 on a quarterly basis.
Furthermore, construction financing is now available in primary markets for top-tier properties. Other properties in primary markets, as well as ones in secondary and tertiary markets, are still experiencing constrained finances.
Several other findings in the survey may indicate solid market conditions for landlords and rental property management officials, who as recently as 2009 were experiencing increased vacancies with no end in sight. In January of that year, landlords were suffering beneath the weight of an MTI of 11, with the highest volume of vacancies since 2002.