Apartment Building Prices Continue to Rise, Surprising the Market via NREI

Prices for apartment buildings continue to rise relative to property incomes—months after the market seemed to have peaked.

“The thing that surprised me a bit about the last six months was the robustness of pricing in the apartment market,” says James Costello, senior vice president for New York City-based research firm Real Capital Analytics (RCA).

Investors continue to offer higher and higher prices for apartment properties relative to the income the properties produce. After a slow beginning to the year, cap rates in the apartment sector continued their relentless march downwards.

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