Sales volumes for multifamily properties in the U.S. jumped 47 percent during the third quarter after a relatively slow second quarter, led by activity in western markets.

Third quarter, national sales volumes for multifamily property reached $25 billion, according to Jones Lang LaSalle.

“Several factors — such as the ‘housing hangover,’ the rise in household formation and population growth within two key renter demographics (Echo Boomers and empty nesters) — continue to support robust demand for rental apartments,” Brady Titcomb, research manager, multifamily, for JLL, said in the report.

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