Multifamily investment conditions turned positive in the second quarter thanks to low-interest rates and increasing net operating incomes (NOIs).
Following a slight decline in the previous quarter, the Freddie Mac Multifamily Apartment Investment Market Index (AIMI) inched up 0.7% quarter over quarter and 2.6% year over year.
“This quarter’s AIMI shows a positive environment for multifamily investors in most markets, including those hit hard by the pandemic,” said Steve Guggenmos, vice president of Freddie Mac Multifamily Research & Modeling. “The low-rate environment and strong net operating incomes offset a slight rise in mortgage rates, indicating a healthy market going into the second half of 2021.”