Posted December 01, 2009 by RentJungle
The National Association of Home Builders has released their quarterly index of apartment demand (both existing units and new constructions. New construction sentiments appear to be improving as well as future expectations for rental demand. Rent's however are not showing improvement. From the article
"While the multifamily market indices measuring current rental demand were little changed on a year-over-year basis, indices measuring expected demand for apartments in the next six months rose for all types of apartments. For lower-end apartments, the future index increased to 43.9 in the third quarter of 2009, compared to 28.2 a year earlier.
Asking rents and effective rents (net of concessions), however, do not yet show progress. In the third quarter of 2009, the index measuring asking rents dropped from 50.8 a year earlier to 41.7, while the index that measures effective rents declined from 38.5 to 26.6."