It's a bit of same ol', same ol' for now in multifamily deal-making two months into 2023 – not a whole lot.

"Buyers are cautious, facing higher financing costs and downgraded projections of future rent growth," writes, Paul Fiorilla, director of research, Yardi Matrix.

Cap rates averaged 5% at year-end 2022, up from the low- to mid-4% range at the beginning of the year, per Matrix.

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