The market with the largest year-over-year drop was Rochester, NY, which saw a 17.3% decrease, followed by Portland, ME's 16.5% plunge. Twelve areas in the Northeast had double-digit drops, while only two markets had increases, Bridgeport-Stamford-Norwalk, CT, at 1.1%, and Springfield, MA, at 0.4%. As a whole, the region fell 8.1%.
The best-performing geographic area was the West, which slipped 0.2%. The Boise, ID-area led the increases, with a 4% jump, while Colorado Springs, CO, had the most difficulties, posting a 7.4% dip.
The Midwest fell by 4.8% across the board. Sales in Des Moines, IA, were the weakest, falling 11.2%, and Omaha, NE, was the best-performing, gaining 4.8%.
In the South, sales only dropped by 0.4%. Chattanooga, TN, fell the hardest, by 8.1%, while Miami fared the best, jumping 9.6%.
Department stores across the country averaged a 3% drop in January. Same-store sales in January in all retail sectors combined jumped 3.6% from the same year-ago period, according to ICSC.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
