Strong Demand, Tight Supply Strengthen Case for New Apartment Development

Investors continue to prefer U.S. apartment buildings over most commercial properties, even commercial office space, as total multifamily sales volume jumped nearly 80% in the second quarter over the same perioud last year.

Although still just a fraction of its mid-2007 peak, the nearly $ 15 billion in sales in the quarter brought total investment for the first half of 2011 to $ 24.5 billion, according to CoStar Group data.

The average per-unit…
National Commercial Real Estate News From CoStar Group