Apartment sales fell to near their lowest in a decade in the first quarter, eliminating property purchases at some publicly traded landlords as buyer reluctance at a time of elevated interest rates is combined with unbending owners waiting for strong fundamentals to prop up prices.
The first quarter’s $16 billion in transactions was just $2.5 billion over the pandemic-era low of $13.5 billion and represents an 86% drop from the era’s peak in the final quarter of 2021, according to CoStar data.
Source: Some Big Apartment Owners Skip Purchases, Despite Having Billions To Spend
