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2024 Top Brokerage Firms

May 29, 2024

Following a stellar two-year run, multifamily investment took a nosedive in 2023. According to Yardi Matrix data, transactions for properties with more than 50 units totaled nearly $70 billion. This was a significant drop compared to the more than $208 billion that traded in 2022 and 2021’s almost $239 billion volume. The downshift was primarily driven by the high cost of capital, which made investors more cautious.

Despite the capital challenges, the multifamily market remained relatively strong. As of last December, the average U.S. asking rent recorded 0.3 percent annual growth, settling at $1,709, according to Yardi Matrix data. National occupancy rates decreased to a still healthy 94.6 percent.

Our Top Multifamily Brokerage Firms ranking highlights the companies behind a significant portion of investment volume. Combined, these firms secured nearly $124 billion in multifamily sales in the past year. This marked a more than 90 percent drop compared to 2022 figures, when the same companies closed $236.6 billion in sales. In 2021, these 15 firms completed more than $269 billion in multifamily transactions.

Marcus & Millichap retained the No. 1 spot. The company’s total investment sales volume came to more than $20 billion.
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