National + Apartments | December 23, 2020

Yardi Matrix: Multifamily Sales Volume Plunges Nearly 42% Y-O-Y

Multifamily sales are down sharply–though impact varies regionally—as a result of the pandemic, Yardi Matrix reported. Through the first three quarters of 2020, $50.6 billion of multifamily property sales were completed in the U.S., down 41.7% from $86.5 billion in the year-ago period.

Yardi Matrix holds out little hope that full-year volume will get close to 2019’s record high of $127.8 billion. Gateway and coastal metros have generally seen a larger decline than secondary and tertiary markets in the Sun Belt and Southwest.

“Much of the change could be described as a ‘filtering’ effect: investors moving from urban cores to inner-ring suburbs, from primary to secondary metros and from secondary to tertiary metros,” the report states. “This phenomenon results from several factors, including owners putting fewer properties on the market, disagreement between buyers and sellers about prices, the composition of buyers, and the competition for assets.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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