White paper: The Magic Number for U.S. Real Estate
Jul 26, 2026
The U.S. multifamily real estate market isn’t broken…but it certainly feels stuck lately.
Transaction volume during the first half of 2026 was noticeably light, an environment populated by sellers reluctant to accept today’s valuations and buyers solving for return metrics 200-300 basis points higher than in past cycles. The end result is an all-too-familiar sense of frustration, the one thing buyers and sellers seem to agree on these days.