Market Intelligence: Multifamily Capital Markets Update
Capital has rarely moved faster, or more selectively, than it is right now. After a stretch of repricing, higher borrowing costs, and a wide bid-ask gap that slowed deal flow to a crawl, multifamily transaction activity is showing real signs of life again. The question for investors is no longer whether the window is opening. It is which markets, deal profiles, and cap rate assumptions will actually reward the capital going in.
In this RealPage webcast, Adam Couch, RealPage Market Research Analyst, will team up with Jim Costello, Head of Real Estate Economics at MSCI, to walk through what the latest transaction data, pricing trends, and capital flows are really telling us about multifamily. You’ll get a clear read on where buyers and sellers are finally meeting, how cap rates are resetting across property types and geographies, and what the shift in Sun Belt versus coastal gateway investment means for the next leg of the cycle.
You'll gain insight into:
- Transaction Volume Trends — How multifamily deal flow compares to other commercial real estate sectors and what the pace tells us about investor conviction
- Cap Rate Movement — Where rates have reset, where they haven't, and what that spread reveals about perceived risk across markets
- Geographic Capital Flows — Why capital continues to favor certain Sun Belt and secondary markets, and which coastal metros are finding their footing again
- Pricing and Value Signals — What recent sales comps suggest about where we are in the pricing cycle and how to frame underwriting assumptions going forward
Whether you are actively deploying capital, evaluating dispositions, or pressure-testing your portfolio strategy, this session will give you the data and context to make sharper decisions in a market that is still finding its footing.
Jim Costello co-heads the real-assets research team, with responsibility for the Americas. He is the principal author of capital-markets research and a frequent speaker at industry events. At Real Capital Analytics, which MSCI acquired in 2021, Jim was a leader for U.S. research. He spent two decades at Torto Wheaton Research working on issues of real estate risk and forecasting. Jim is a member of The Counselors of Real Estate and served a term as a member of the Commercial Board of Governors of the Mortgage Bankers Association.
Adam Couch
Research Analyst, RealPage, Inc.Adam Couch specializes in residential housing research and advanced analytics, with a focus on risk assessment, emerging trends, capital markets, and demographic shifts across the multifamily sector. He develops forward‑looking research into strategic recommendations that guide executive decision‑making across investment, portfolio strategy, and operations through market cycles and changing economic conditions. Adam has spoken at commercial real estate conferences, been cited in The Dallas Morning News, and previously advised Fannie Mae on multifamily asset management strategy.
