Apartment Demand Grows, Sales Volume Slows

High home prices were a prominent subject two years ago, and despite a dip in values, still-elevated home values and high mortgage rates have kept the topic in conversation. While multifamily investors are familiar with these issues for homebuyers and their implications for the rental market, the enduring nature of this buyer-renter gap will lead even more families and individuals priced out of homeownership to seek apartments instead. Sources discussed in this episode: Marcus & Millichap: “Housing” - https://www.marcusmillichap.com/research/research-brief/2023/03/research-brief-march-housing The Wall Street Journal: “Apartment-Building Sales Drop 74%, the Most in 14 Years” - https://www.wsj.com/articles/apartment-building-sales-drop-74-the-most-in-14-years-9a80aa48 Moody’s Analytics: “CRE is Vulnerable, but Please Don’t Overlook the Details” - https://cre.moodysanalytics.com/insights/cre-news/cre-is-vulnerable-but-please-dont-overlook-the-details/ Marcus & Millichap: “Could CRE Disrupt the Banking System?” - https://player.vimeo.com/video/814308634 For the latest multifamily news from across the internet, visit the Gray Report website: https://www.grayreport.com/ Sign up for our free multifamily newsletter here: https://www.graycapitalllc.com/newsletter DISCLAIMERS: This podcast does not constitute professional financial advice and is for educational/entertainment purposes only. This podcast is not an offer to invest.