The years 2021 and 2022 saw apartment sales that totaled $332 billion per year.  According to a report from data firm MSCI Real Assets, last year saw a transaction volume that fell 61% to $119 billion.  Borrowing costs rose in 2023 which contributed to the transaction volume decline. However, even though apartment sale prices fell, they didn’t lose all the value gained after the pandemic. The Real Capital Analytics Commercial Property Price Index for apartments fell 8.4% in 2023, but it had grown at a 23.5% annual pace as recently as the first quarter of 2022. continue