Transaction activity accelerated in the third quarter of 2019 to $141.9B—up 9% quarter-over-quarter. Third quarter volume was down 8% compared to a year ago, but Q3 2019 was still the second strongest third quarter on record for transaction volume.

U.S. multifamily volume growth eased in the third quarter, following a strong second quarter. Transaction volume declined 12.1% year-over-year. However, YTD, investors deployed capital in multifamily assets to the tune of more than $122 billion, a 5.2% increase over the same period in 2018.

Consumers' Rising Influence, Investors Still Buying

Current economic indicators bode well for the healthcare sector. While medical office market indicators have slowed in the past twelve months compared to previous years, 2020 looks to be another strong year for healthcare real estate. Healthcare providers and investors should capitalize on the positive outlook and sector growth by continuing their shift toward consumer-friendly care delivery and prioritizing accommodations to new regulations.

The U.S. economy continued to grow at a steady pace in the third quarter of 2019, adding approximately 470,000 new jobs, of which 140,000 were in the key office-using sectors. Consumer confidence, while off recent highs, remains solid indicating shoppers are still optimistic. As of September, the unemployment rate is at 3.5%—the lowest since 1969.