Apartment Builders Becoming More Active

Apartment developers are buying up land at a faster pace.  CoStar Group tracked nearly $11.9B in land sales, a 20% increase for over the same time last year.  It’s no where near the peak market activity in 2006 when land sales totaled $62B  year.  Large national publicly held single-family homebuilders and apartment developers continue to purchase land parcels spurred by strong multifamily market and a stabilizing single-family market.

Source: Harbor Stone Advisors Commercial Group