Top 5 western markets by MF investment volume

By Anca Gagiuc | Multihousing News

The national multifamily investment volume continued to break records, crossing $157 billion through the first three quarters of 2022. That’s higher than the best year on record yet—2021, when $132 billion in multifamily assets had changed hands across the U.S. through the same interval. However, this remarkable performance in investment is about to take a break following the Fed’s repeated actions to stop inflation.

We pulled up the top five western markets by investment volume through September, using data provided byYardi Matrix. Combined, the metros in this ranking—Phoenix, Denver, Las Vegas, Tucson, Ariz., and Salt Lake City—accounted for $21 billion in sales, narrowly outperforming last year’s $20.7 billion. Some key takeaways are:

  • Sales volume was lower than last year in just one of the Western markets.
  • All markets saw increases in per-unit prices.
  • Fewer properties/units traded this year through September than during the same interval in 2021.
  • Investors focused on Lifestyle units ($11.5 billion), but volume was below last year’s ($12.2 billion); this year’s Renter-by-Necessity volume ($9.7 billion) was below that of the Lifestyle segment but actually outpaced last year ($8.4 billion).
  • RBN sales volume was behind that of last year’s in one of the markets.
  • Lifestyle sales volume surpassed that of last year’s in two markets.

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