Monthly Transaction Volume
But, digging a little deeper, RCA noted that the sale of individual assets fell, pushing them down 16% year over year on sales of $6.4 billion. That was after individual sales had improved 12% in July.
In segment transactions, both garden and mid-rise apartments saw increases, of 16% year over year and 5% year over year, respectively. Individual transactions saw declines of 1% in the garden sector and 39% in the mid- and high-rise categories.
Despite the summer turbulence and individual sale slump, 2015 still looks to be a record setter.
“For all apartment segments and transaction types, the best months of 2015 [so far] were in the first quarter, with sales volume growing in the double digits,” RCA says. “Despite a slowing pace of growth into the summer, total volume for 2015 is likely to surpass [that of] 2014, with the market already at 74% of the 2014 figures ahead of the busy fourth quarter.”