#1: Buyer Demand
Current demand for multifamily properties is at a 4 year high. Potential for solid returns has led seasoned and new investors alike into the market, creating a frenzy of buying.
#2: Inventory & Supply
Inventory of quality properties for sale is at a post bubble low. Many sellers are receiving multiple bids & selling for top dollar. I expect supply to catch up with demand within 6-12 months, making this the ideal time to sell.
#3: Interest Rates
Record low interest rates and borrowing costs are spurring a lot of activity. Investors are eager to place cash in real estate investments before the cost of borrowing goes up.
#4: Cash Buyers
Demand for residential rental units is near all time highs. Higher gross rents + lower vacancy rates = increased profits. Cash buyers seeking stable returns are flooding the market.
#5: Owner Occupy Buyers
Extremely low interest rates for live-in owners along with supplemental rental income makes buying 2-4 unit buildings irresistible to savvy buyers.