Condominium Market Circumstances Proceed to Loosen

by Calculated Threat on 10/21/2024 11:00:00 AM

Immediately, within the CalculatedRisk Actual Property Publication: NMHC on Residences: “Looser market conditions for the ninth consecutive quarter”

Excerpt:

From the NMHC: Although the Condominium Market Continues to Loosen, Deal Movement Will increase for Third Consecutive Quarter as Debt and Fairness Circumstances Enhance

Condominium market situations confirmed indicators of enchancment within the Nationwide Multifamily Housing Council’s (NMHC’s) October 2024 Quarterly Survey of Condominium Market Circumstances. All however the Market Tightness (37) index indicated extra favorable situations this quarter, with Gross sales Quantity (67), Fairness Financing (63) and Debt Financing (77) all coming in above the breakeven degree (50)
…
• The Market Tightness Index got here in at 37 this quarter – under the breakeven degree of fifty – indicating looser market situations for the ninth consecutive quarter. Whereas near half of respondents (46%) thought market situations have been unchanged relative to a few months in the past, 40% of respondents thought markets have turn out to be looser, up from 27% in July. Fifteen % of respondents reported tighter markets than three months in the past.

This index has been a superb main indicator for rents and emptiness charges, and this implies larger emptiness charges and an extra weak spot in asking rents. That is the ninth consecutive quarter with looser situations than the earlier quarter.

There’s way more within the article.