Last year’s prediction of a multifamily meltdown due to high interest rates and mounting debt hasn’t resulted in any fire sales for investors waiting in the wings. Instead of dumping assets, owners are hanging on, and sales in 2023 were well below levels in 2021 and 2022. Also, 40 percent of transactions last year happened in tertiary metros—places attracting tenants looking to pay lower rents—so those markets might be more attractive for investment. However, inflation is still hitting owners hard.
Source: https://www.orionprop.com/topfive/investors-still-waiting-for-bargain-multifamily-deals/
