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Overall deal volume was up 74% year-over-year and well over the average set across each July since 2005, according to Real Capital Analytics data, with apartment sales constituting 35% of all investment. Apartment pricing also gained the most ground last month, with prices of assets up 13.5% year-over-year.

Multifamily investment volume has skyrocketed this year, netting a 34% quarter-over quarter increase, according to CBRE. In response, cap rates have decreased, and some bidders are aggressively pushing up pricing as inflation fears persist.

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