Commercial Real Estate Recovery Still on the Rise
There has been much news about the commercial real estate market being in distress, but the pricing recovery hit a steady stride this part September. The rise helped contribute to lifting the CoStar National Composite Index to an almost 1% gain in pricing for the third quarter of 2011 over the previous three months.
According to the latest release of the CoStar Commercial Repeat Sale Index (CCRSI)…
Two main factors, the ongoing decline in distressed sales activity and the recovery in pricing of retail and multifamily sales — drove the 0.9% increase for the quarter and the modest 0.4% bump.
CoStar counted 825 sales pairs for September, 682 general property purchases and 143 investment grade deals, in slightly lower transaction activity from the previous month. By comparison, only 385 transactions were recorded in January 2009, the bottom of the last downturn, and the September figure is within the historical range of the real estate boom period from 2004 to 2008.
To read the entire article on the rising recovery visit CoStar Group.
Source: CoStar Group