WASHINGTON, DC—The rap on 2016 specifically, and on commercialproperty sales generally, has been that volume has diminished andthat pricing gains have slowed. However, the latest reports fromCoStar Group and Real Capital Analytics, although reflectingNovember results rather than the year-end push, suggest that thepace may actually be picking up.
CoStar said last week that both of its national CoStarCommercial Repeat Sale Indices—equal-weighted andvalue-weighted—advanced by more than 1% in November, following ayear-to-date monthly average of 0.7% in the two price indices. Theequal-weighted index rose 1.1% in November and is now 3.2% aboveits pre-recession peak, while the value-weighted index advanced1.3% during the month, putting it nearly 28% ahead of itspre-recession high.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
