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NREI Reports Highest Quarterly Transaction Volume on Record

SAN FRANCISCO-GRA National Real Estate Index says nearly $63 billion worth of real estate changed hands in a record shattering third quarter that was led by the apartment sector.

By Brian K. Miller | Updated on December 02, 2005

SAN FRANCISCO-The third quarter saw the highest volume of commercial real estate transactions ever, according to locally headquartered Global Real Analytics’ National Real Estate Index unit, which analyzes 60 US markets. About $62.8 billion worth of real estate changed hands during the quarter, topping by 14% the previous high of $55 billion that occurred in the second quarter of the year, according to NREI.

Leading the way was the apartment sector with over $19 billion in transactions, or 30.6% of the total volume, according to NREI. The figure is 57% higher than the second quarter. Likely reasons include the improving economy, increasing interest rates (which have an adverse impact on new home ownership) and the condominium conversion trend, which is decreasing the rental supply in many markets.

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