Wednesday, November 26, 2014
GlobeSt.: Apartment sales could edge past '07 totals
The demand for multifamily has exceeded new supply and the national vacancy rate has decreased to 4.3%. According to Real Capital Analytics data in a recently published GlobeSt. article, "If the current pace is maintained through the end of the year, sales volume could reach $105.2 billion, just nosing past ‘07’s level of $105.1 billion."
With continued employment growth, Millennials entering the workforce and leaving home, and Baby Boomers occupying more apartments as they enter the retirement phase, it appears we are approaching and unprecedented time. Read more about the sales velocity for the multifamily sector across the country in the previously referenced GlobeSt. article.