According to Newmark's Third Quarter 2022 United States Multifamily Capital Markets Report:
- Quarterly absorption posted net negative demand of 82,035 units nationally in the third quarter of 2022, during the historically active leasing months of July, August and September, where absorption was negative.
- Nationally, vacancies remain near historic lows of 3.1% on a trailing 12-month basis; however, quarter-over-quarter vacancies have risen 90 basis points as demand has trailed off recently.
- While multifamily remains the most sought-out property type, accounting for 41.7% of all US commercial real estate year-to-date, sales volume in the third quarter of 2022 declined 17.2% year-over-year, to $74.1 billion. Compared with the first three quarters of 2021, sales volume has increased 25.0% and deal size continues to escalate.
Download the full report at NMRK.com.
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