Apr 17, 2012 12:29 PM, Staff Reports

Preliminary first quarter 2012 multifamily property sales data indicate that transaction velocity decelerated from the rapid pace observed during the fourth quarter of 2011.

After recording more than 360 U.S. apartment sales valued at $10 million or more during the fourth quarter of 2011, total sales closed during January, February and March probably declined by one-third or more. The average price of a unit traded in the first quarter of 2012, increased, however, rising 5 percent from $122,400 in the fourth quarter of 2011 to $128,600 during… [FULL ARTICLE]