After a recovery in August, sales of apartment properties fell 11% year over year in September, according to Real Capital Analytics’ (RCA's) most recent market report.
“This decline comes on the heels of a slowdown since May in the growth in sales volume for the apartment sector,” RCA said in the report.
RCA said the average monthly pace of sales growth in the first quarter of 2015 was 73% year over year. But in the second quarter, that number fell to 23% year over, and in the third quarter, it dropped to 5% year over year. Private investors have driven volume throughout the year.
Read more...Apartment Volume Continues Sliding in September | Multifamily Executive Magazine | Cap Rates, Capital Markets, Dispositions and Transactions, Sales, Transactions, Real Capital Analytics
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