The national sales volume for multifamily properties in the United States has improved so far in 2012, according to a report from Real Capital Analytics.
Property management companies spent $5.5 billion on multifamily transactions during May, which was the highest monthly figure in 2012, MultifamilyExecutive explained, citing the figures. Overall, the full year's total sales volume was approximately $22.1 billion through the first five months. When comparing year-over-year figures, May sales rose 15 percent.
Manhattan experienced the highest sales volume in 2012 compared to any other market in the country, the report noted. The island witnessed 134 transactions worth a total of $2.6 billion. Los Angeles was second with 156 properties and $1.2 billion. Atlanta had 66 properties sold for a total of $1.2 billion, while Dallas, Texas, experienced $867 million in sales as a total of 70 properties changed hands.
The report added that the sales volume situation should continue to improve as the year goes on. More specifically, sales in the second quarter will likely be higher than the first quarter, overall.