- Multifamily investment sales volume in 2Q21 accelerated to $52.7 billion, representing a 238.1% surge year-over-year compared with 2Q20 – the largest sequential increase on record.
- With $92.1 billion in deal activity through the first half of 2021, volume is 7.2% ahead of 2019’s pace, a year in which investment sales achieved record annual volume of $192.5 billion.
- Dry powder rose to an all-time high of $234 billion earmarked for investment into commercial real estate. Year-to-date, $74.3 billion has been set aside for investment into residential properties.
- On a quarter-over-quarter basis, multifamily effective rent rose by 3.8% in 2Q21 - the highest single quarter growth rate on record.
- Through the first half of 2021, demand has significantly outpaced new supply by 93,000 units with 268,000 units absorbed compared to 175,000 new units delivered. This marks the largest level of demand for apartments to date.