493: Multifamily Sales Volume Is Down 80%

Since mid-2022, multifamily prices have plummeted over 30% and transaction volume is down 80%. Class C, in particular, has taken a beating. In the Class A space, sales volume is starting to pick up as owners are being forced to sell by lenders or institutional partners in advance of impending loan maturities. In most markets, rents have stopped their decline and beginning to stabilize. In addition, rates may be plateauing and ready to decline. As these factors come into play, and as new inventory gets absorbed, we may be near the bottom and on our way back up to a full recovery. Brian Burke, President and CEO of Praxis Capital, has been through several cycles, and believes multifamily will rebound in 2025 and 2026.