- Apr 15, 2014
Apartment total returns for the reporting members of the National Council of Real Estate Investment Fiduciaries fell during 2013, to 2.48 percent in the fourth quarter.
Data from the Mortgage Bankers Association show that the fourth quarter 2013 multifamily financing volume index of 269 is on par with the same period in 2012.
According to the National Association of Home Builders (NAHB), the inventory of condominiums and cooperatives finished the year at 4.6 months in December 2013. Over 2013, the median condo and co-op sales price rose by 10.0 percent to $197,400, according to NAHB.
NAHB states that the decline in existing condo and co-op sales over 2013 reflected a 12.5 percent decrease in existing condo and co-op sales in the Midwest and a 7.1 percent drop in the South. In contrast, existing condo and co-op sales rose by 9.1 percent in the Northeast. In the West, sales were unchanged over the year.