Multifamily investment sales continue to outpace other commercial property types in terms of growth of volume year over year. Multifamily sales in the first quarter were up 33% compared to a year earlier and were up 52% in 2011 compared to 2010.
In preliminary full first quarter numbers, CoStar Group is showing nearly $14 billion of apartment property sales in the first quarter vs. $10.5 million a year ago. The segment recorded $64.6 billion in sales last year vs. $42.5 billion in 2010.
The health of the market has caused some to question current market property enthusiasm and valuations. However, new analysis from Fitch Ratings, Moody's Investor Services and Freddie Mac dispel some investor concerns by reporting that market fundamentals appear to support current valuations.
Read more...Multifamily: Too Much of a Good Thing? - CoStar Group
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