AvalonBay CEO Expects Multifamily Sector to Remain Soft Until Economy Recovers

AvalonBay Communities, Inc. (NYSE: AVB) chairman, president, and CEO Tim Naughton said market fundamentals in the multifamily sector are likely to remain soft until there is a pickup in the economy.

“Until people start going back to work, when you start creating some movement in the economy, we’re really not going to see the bottom,” Naughton said during a Sept. 23 NYU Schack REIT Leadership Workshop webinar.