Apartment sales temporarily lag

The apartment sector is still experiencing soft conditions, according to the National Multi Housing Council’s latest quarterly survey of apartment market conditions, but investor demand for apartment properties remains high.

“Without any appreciable job growth, apartment demand is expected to remain somewhat stagnant in the short term,” said Council Chief Economist Mark Obrinsky.

“The January 2003 survey did show a drop in the volume of apartment sales, but ... apartments remain the most desired real estate asset for more investors,” Obrinsky said.