As the U.S. continues to go through a bumpy recovery from the pandemic, multifamily investors are trying to figure out the safest markets to place their money in. A recent report from real estate data firm Real Capital Analytics (RCA) shows that the multifamily sector has not only regained the momentum it had pre-2020, the overall investment sales volume for U.S. multifamily properties reached a record high in the second quarter of this year, at $43.3 billion, most of it driven by single-asset sales.
But RCA’s data also shows that the past two years have pushed some metros, including Phoenix and Baltimore, up on investors’ preference list from 2019 to 2021, while others, including Los Angeles and Manhattan, have fallen down somewhat in the rankings. Neither of those markets, however, was the one that experienced the steepest fall in multifamily transaction volume. Instead, it was Seattle, which fell off the Top 20 chart altogether from its spot at number 11 in 2020.
To find out which which other cities made it to the top in investment sales volume in the first half of 2021, here’s RCA’s breakdown of the top 20 most active apartment markets.