The brilliant parodist Tom Lehrer decades ago may have been the first to mention “sliding down the razor blade of life.” Many have jokingly used the phrase over the years, but it may be a shave a little too close for comfort in the multifamily sector, according to new stats from MSCI.

Apartment deal and valuation growth had taken off during the pandemic as an influx of capital from Federal Reserve easy money strategies to restart the economy helped push up demand, which dragged transactions and rent growth along. However, the top of the rise was August in 2022, and there has been a continuous stretch of falling deal volume until August 2023. That made a year-over-year downward pace of 60%.


NOT FOR REPRINT

© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Erik Sherman

 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.