DEAL ACTIVITY FELL OFF A CLIFF IN MAY…

Real Capital Analytics released their U.S. Apartment report for May. The main takeaway is that deal activity fell off a cliff in May, and pricing continued to rise…

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This ties to the anecdotal reports across the country that buyers aren’t able to extract pricing concessions from sellers. Continue reading this thread for a quick summary…

- Deal activity in the apartment market fell 81% from the prior year.

- At $3.1 billion, the multifamily sector posted the highest volume of any asset class, as much as the industrial and retail sectors combined…

- Garden-style assets were the poorer performing subtype for the month, falling 83% on $1.8 billion. Volume for the mid/high-rise subtype totaled $1.3 billion, a 74% decline from the prior year…

- Pricing continues to be tight in the apartment market. At 5.4%, cap rates have compressed 10 bps from last year’s level…

Check the entire article at http://5StatMonday.com"> http://5StatMonday.com  #5StatMonday #realestate #multifamily #business #finance #housingmarket #rent