Apartment Sales Volume Down 30%
Aug 11th, 2008 by stewart
According to the National Apartment Assocation (NAA)’s Units July 2008 issue:
“Sales of apartment communities dropped significantly in April as fewer than 100 properties sold for $5 million or more, according to Real Capital Analytics’ April report. Volume in April totaled $1.2 billion, just 30% of the levels averaged in the first three months of the year. Compared to a year ago, property sales last month represents an 81% decline.
New offerings were also down from March, but only by 25%, resulting in nearly $4 billion more listings than closings. So far this year a total of $23.2 bilion of apartments have been put up for sale but only $13.7 billion of properties have sold.”
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