Colliers reported a significant drop-off in commercial real estate sales for May, coming in at $19.8 billion, which was 71% lower than last year's volume, led by multifamily and industrial.
Given that volume peaked on a four-quarter rolling basis in Q2 2022, the firm said it was not surprised, wrote analyst Aaron Jodka.
"Values continue to adjust, but market participants are happy about the Fed's recent interest rate pause," according to the report.
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.
