Sellers Continue to Offer Assets Into Broadening Investor Pool

NEW YORK CITY-The decline in sales activity in the past several months hasn’t deterred apartment sellers one bit. A near-record $7.6 billion worth of multifamily properties were put on the sales block in January, representing an 84% increase from a year ago, according to Real Capital Analytics.

Conversely, investment volume for apartments barely surpassed $3.5 billion in the first month of the year, 47% less than the same period in 2007. In fact, the locally based firm points out that the volume levels haven’t been so low since early 2004.

The increase in offerings, RCA researchers say, is a sign of a broader trend. Rather than panicking, they say, sellers “may be sensing the shift in investor demand under way as apartments once again become the most popular property type.”