LOS ANGELES—While pricing for trophy assets in certain marketshas exceeded the levels reached in 2007, no property sector hasmanaged that feat in terms of 12-month sales as yet. It's left tomultifamily to potentially be the first;CBRE says we could see dollar volume for apartmentproperties edge past '07 by Dec. 31.

Citing Real Capital Analytics data, CBRE saysmultifamily sales volume for the first nine months of 2014 totaled$73.1 billion, while reaching $27.5 in the most recent quarter. Ifthe current pace is maintained through the end of the year, salesvolume could reach $105.2 billion, just nosing past '07's level of$105.1 billion.

RCA's most recent data suggest that the trend will continue.Sales of significant apartment properties totaled $10.1 billioninOctober, a 10% increase year over year, RCA says. Volume in thegarden apartment sector saw an especially strong gain of 29% overOctober 2013 levels, while sales of mid/high-rise properties fell31% Y-O-Y after rising 75% Y-O-Y in the thirdquarter.