• Investors deployed $92.5 billion into the major asset classes in Q1, a 17% increase from a year ago.
• However, fewer properties are transacting, with asset trades down 12% from last year.
• Multifamily is the leader in both volume and year-over-year gains.
• After two quarters of growth, office pulled back in Q1 – the only asset class to post a decline.
• Recent market volatility has caused deals to stall, suggesting Q2 activity could be muted.

Sales Volume by Asset Types

Investment sales activity continued its upward trend, with volume increasing 17% compared to a year ago. All asset classes posted gains except for office. Despite this rise in volume, the number of properties trading remains muted, with a 12% decline compared to the start of 2024. Recent market uncertainty and volatility are weighing on deal activity in April, suggesting Q2 volume may be restrained. Private capital is the dominant force in the market today, with institutional sources a distant second. Cross-border, REIT, and user-buyer activity are limited.

Source: Colliers