The More Things Change, The More They Stay the Same

WASHINGTON, DC—As GlobeSt.com reported yesterday, the National Multi Housing Council has released its 2013 NMHC 50 rankings and while some findings may seem like déjà vu, other things have changed significantly over the past year. 

It’s well known that apartments are at the top of investors’ shopping lists, and the past year has proved that; transaction volume rose 50% over the course of 2012 to end the year at $85 billion, the highest level outside of the halcyon says of 2005-2007. Sales of mid- and high-rise properties together hit the $32.1-billion mark, almost as high as the 2007 volume of $33.7 billion. Bargains were harder to find, with average cap rates at 6.1%—the same as in 2006.