Apartment property prices fell 2.56% year over year in the second quarter and 3.49% since June 2022 under Trepp's equal weighted index, while a value weighted view showed a steeper 17.8% drop since 2022. Trepp said the quarterly decline slowed to 0.1% as new supply pressure eased in some markets and expenses moderated, though a 10 year Treasury yield at 5.24% is still squeezing values.
Why it matters to multifamily marketers
Softer values and higher capital costs mean owners could lean harder on net operating income, which translates into tighter marketing budgets and more pressure on in house teams to show lead to lease return.