Ballard Spahr partner Roger Winston, who worked on the recent $460 million sale of eight apartment complexes in the suburbs of Washington, D.C., said multifamily real estate activity has picked up because there are more investors looking than there are properties for sale. Mr. Winston said other factors include low sales of new homes, improving employment, and the younger generation's lack of interest in homeownership. He said condos also should do well because so few have been built in the past two years.