In the first 11 months of 2006, apartment sales transaction volume reached $78 billion and was on track for the year to easily surpass the record $88 billion total notched in 2005, reports Real Capital Analytics (RCA).
From the end of 2003 through November 2006, average cap rates for stabilized assets, as tracked by RCA, fell from 7.4% to 6%.
In scorching markets like Manhattan and San Diego, average cap rates in November ranged between 4% and 4.5%.
