Nov
02

Apartment Sales Volume Jumps 63% in Third Quarter

By
– Multifamily Executive

The increases in sales just keep coming. Sales volume rose 63 percent to a total of $8.5 billion from the second to third quarter of the year, according to Real Capital Analytics (RCA). That’s the biggest jump in the past five years. Even more impressive: It’s a 130 percent jump over the third quarter of 2009.

Still, there’s one caveat. While sales volume rose 63 percent, the number of transactions only rose 5 percent, meaning deal size played a huge role in the transaction numbers. So far, $18.5 billion of apartments sold this year. That’s almost double the volume of the first nine months of 2009, but the number of properties sold only represented a 31 percent increase.

“A lot of the assets that sold are of higher quality,” says Ben Thypin, senior market analyst at RCA. “That’s why the jump in volume is bigger than the jump in count.”

ARTICLE SHORTENED DUE TO LENGTH….

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