The Portland Business Journal today cites CoStar reports in a story highlighting Portland's active multifamily market. CoStar says the metro area needs a little more than $400 million in apartment deals before the end of the year in order to beat the 2016 sales volume record of $2.978 billion.
So far in the year, the area has tallied $2.567 billion, according to CoStar, which included complexes of five or more units and didn't count residential condos and co-ops.
Portland is still popular because it costs about half as much per door as multifamily housing in Seattle or the Bay area, and homeownership continues to be expensive. Multifamily construction is down and rents are edging higher.
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