Multifamily real estate repeat sales index in the U.S. 1996-2024

The CoStar Commercial Repeat-Sales Index (CCRSI) for multifamily real estate in the United States started to decline in the second half of 2022, after more than a decade of steady growth. The index measures the development of sales prices of multifamily properties, with 2000 chosen as a base year. An index value of 200 means that sales prices have doubled since 2000. In March 2024, the value-weighed index, which is more representative of the high-value deals in core markets, hit 325 index points, down from a market peak of 416 in June 2022. The equal-weighed index is more influenced by the lower-priced deals that comprise the higher share of transactions. It stood at 438 index points in March 2024, down from a market peak of 503 in June 2022.