The apartment sales market remained hot in July, totaling $7.8 billion in volume, which was a 14 percent year-over-year increase according to New York-based research firm Real Capital Analytics (RCA).
While there were volume gains in garden and mid/high-rise transactions, as well as portfolio and individual transactions, the real story was in tertiary markets. In those areas, sales activity jumped 31 percent year-over-year. These gains could be taken as a sign that investors have cooled on pricey primary metros and are looking further out for yield.
Read more...Transactions in Tertiary Markets Jump in July - Multifamily Executive Magazine
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