Freddie Mac AIMI Remains Steady In Q1 2021

Freddie Mac AIMI Remains Steady In Q1 2021
Katie Jensen
KEY TAKEAWAYS
Over the first quarter, NOI grew the quickest in Tampa and Phoenix at 3.1% and 2.7% respectively.
Throughout the year, NOI decreased in the nation and across 15 markets. Similar to last quarter, San Francisco and New York had double digit declines of -16.5% and 121.7% respectively.
Mortgage rates also decreased by 42 basis points over the past year.
The nation and 16 markets experienced year-over-year property price growth, while metros experienced contraction. Chicago was the only metro with no price growth or contraction.
The Freddie Mac Multifamily Apartment Investment Market Index (AIMI) held steady in the first quarter of 2021, while growing net operating incomes (NOI’s) and low interest rates improved the investment environment for multifamily properties. The index is down 0.1% after two straight quarters of growth with the majority of markets in positive territory. 

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