Government Gives Ailing Apartment Market a Financial Lift
National Real Estate Investor reports: Real Capital Analytics (RCA), a research firm also based in New York, reports that apartment transactions plunged 81% year over year in the first five months of 2009.
In addition, the $2 billion in apartment sales reported in the first quarter of 2009 was far lower than the $7 billion in sales recorded in the first quarter of 2008, according to RCA, and it was the lowest dollar volume in sales since RCA began tracking the data in 2001. In the peak year for sales, 2007, $19 billion in transactions were reported in the first quarter.
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Posted by: Mark Alferman