Multifamily as an asset class is still experiencing robust levels of sales volume in 2022 so far. U.S. multifamily sales volume totaled $86.3 billion in Q2 2022, up 42 percent year-over-year as it continues to drive overall investment activity. The national occupancy rate dipped 80 basis points during Q2 2022 but is still up from a year ago. In addition, rents increased another 14.5 percent year-over-year. Though rising borrowing costs are likely to slow the record rate of sales activity in the second half of this year and red-hot market fundamentals are starting to cool, multifamily is still poised for strong levels of investment activity. As the national multifamily market has begun to show signs of moderating growth, so has the Northwest region of the country.
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