Multifamily market showing slow recovery signs

The multifamily market is getting better.

The recovery from the recession has been slow, but progress has been made. For many commercial property managers, they could see continued improvements, even if expectations have been dialed back a bit, according to GlobeSt.com.

Marcus & Milichap released a report last spring which warned industry members of a difficult recovery, even if a double-dip recession was unlikely. The U.S. economy has struggled to improve for many reasons such as debt problems and outside financial influences, while not forgetting employment trouble and consumer confidence not being where it needs to be.

"While these headwinds are long-term in nature, we cannot ignore some of the positive aspects that are evidence of a strengthening economy," Hassim Nadji, director of research and advisory services for Marcus & Milichap, told the news source.

Despite this, the apartment market does have hope for future continued recovery, the report noted. The employment situation is improving and there is less of a dependence on temporary workers. With more permanent workers being hired, a larger portion of younger adults who left college to move back home will be able to find their own place to rent.

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