Multifamily Sales On Pace of Reaching Record High for the Year

Annual U.S. multifamily property sales are approaching a record in the face of a flood of new apartment construction and increasing home ownership, according to CoStar.

Market doomsayers may be confounded by how the new units are being quickly absorbed by renters, but demand remains unabated across the sector, CoStar`s multifamily analysts predict in a presentation on the state of the market.

"The multifamily market continues to surprise market watchers," said Michael Cohen, director of advisory services for CoStar Portfolio Strategy, the company’s advisory arm. "Expectations that supply would overwhelm demand, expectations that price growth would trail off, both appear to be contrary to what we’re seeing today."...   ...more

RSK: If I had multi-family I would unload it now at it`s highest prices. Then the question of what to put that equity into....maybe just pay the taxes and keep the cash for when prices tumble in the next cycle.