The long-term multifamily forecast has been widely optimistic, which has been reflected in escalating valuations and continued increases to the purpose-built rental pipeline.
- Sizeable portfolio sales remain a key influencer to valuation benchmarks and represent a significant portion of market share.
- On the tailwinds of the second most active Q2 on record, sales volume propelled to become the most active Q3 on record reaching an astounding $1.209B. This represents a YoY increase of 123.8% and is approximately $670M above the 5-year average.
- The sale of 3,474 suites over 39 transactions represents a 91.4% increase in suites traded vs. a 30.0% increase of transactions, indicating substantial growth in average deal size.