Yardi® Matrix analyzed multifamily transaction activity for its final special report of 2020 and found that property sales are down sharply, though impact varies regionally, as a result of the pandemic.
Through three quarters in 2020, $50.6 billion of multifamily property sales were completed in the United States, down 41.7 percent from $86.5 billion through the same period a year ago, according to the report. There’s little hope 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 in deal flow 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
