Soaring Sales Transactions Propel Volumes

NEW YORK CITY-The fourth quarter of 2012 saw a great deal of uncertainty related to global economic challenges, however, clarity appears to have arrived in the final days, sparking investors to close deals before year-end.  In fact, investor activity for all property types propelled preliminary volume estimates to their highest level in five years. 

Volumes for core property types are currently close to $78 billion for the fourth quarter, up over 40%  annually and bringing total volumes for the full year above $200 billion, representing over a 20% increase. The much higher than expected volume is attributed partly to anticipated capital gains tax increases, which prompted motivated sellers to pull forward investment activity from 2013 into December.