MSCI Real Assets informed Multifamily Dive that apartment sales volume plunged 71% YoY in January to $6.2B.
Apartment prices saw a 4.6% YoY decline in January and a 10.3% decline since July.
According to MSCI, garden-style apartments and high-rise apartments saw double-digit YoY declines.
- Apartment sales transactions remained above the $1B and $2B posted in the month following the global financial crisis of 2007-2009.
- Public markets valuations improved by 9.4% from December.
- Cody Kirkpatrick, managing director of Berkadia's JV Equity and Structured Capital Group, called it a period of adjustment.
