San Francisco multifamily investment sales stay elevated in the first half of 2026 but trail 2025’s pace

Buyers were active in San Francisco’s multifamily investment market during the first half of 2026, although transaction volume fell short of the exceptionally strong pace recorded a year earlier. Sales volume totaled $1.28 billion in the first two quarters of 2026, down from about $1.56 billion in the same period in 2025, a decline of roughly 18%.