Q2 2023 Multifamily Insider

For the second quarter of 2023, overall deal volume plunged nearly 83% from Q1.?We are seeing a 10% decline in $/unit and 5% decline in $/SF from the previous quarter.?We expect these adjustments to continue as markets adjust to further tightening of lending practices and rate hikes.?

?For this report we are showing a number of transactions for the Lincoln and Council Bluffs markets in addition to the Omaha MSA.?Strong demand and high occupancy for multifamily persist which gives reason for continued optimism in the market despite the economic headwinds and in relation to many of the larger primary markets that continue to give this market a strong risk profile.