The Institutional Property Advisors (IPA) and Marcus & Millichap surveyed multifamily owners, operators and developers representing nearly 900,000 units across the country to gauge their market sentiment.
Are you able to travel for basic diligence activities (property tours, market tours, etc.)?
- 58 percent Yes;
- 33 percent No; and
- 08 percent Not Applicable.
Has your firm put all acquisition activity on hold?
- 58 percent Yes;
- 17 percent No; and
- 25 percent Not Applicable.
Is your firm delaying dispositions?
- 08 percent Yes;
- 50 percent No; and
- 42 percent Not Applicable.
Do you believe that coronavirus related economic impacts will decrease investor demand for multifamily housing in the long-term?
- 26 percent Yes; and
- 74 percent No.
Would your firm purchase a property with a confirmed case of the coronavirus?
- 39 percent Yes;
- 57 percent No; and
- 04 percent Not Applicable.
Would your firm purchase a property based on a virtual tour?
- 53 percent Yes;
- 21 percent No; and
- 26 percent Not Applicable.
What overall levels/movement does your firm expect over the next six months?
| Category | Significantly Increase | Slightly Increase | Remain About the Same | Slightly Decrease | Significantly Decrease |
| Survey Period | March 20 | March 20 | March 20 | March 20 | March 20 |
| Rents | 0.00% | 0.00% | 17.02% | 65.96% | 17.02% |
| Vacancy | 10.87% | 47.83% | 23.91% | 10.87% | 6.52% |
| Concessions | 38.30% | 53.19% | 8.51% | 0.00% | 0.00% |
| Permit Activity | 0.00% | 2.08% | 12.50% | 29.17% | 56.25% |
| Construction Starts | 0.00% | 0.00% | 12.50% | 33.33% | 54.17% |
| Asset Values | 0.00% | 0.00% | 10.42% | 77.08% | 12.50% |
| Cap Rates | 8.33% | 56.25% | 25.00% | 10.42% | 0.00% |
| Apartment Sales | 0.00% | 2.13% | 8.51% | 25.53% | 63.83% |
