CCIM Reports: Transactions, Interest, Prices On The Rise Nationally
CCIM Institute members from around the country reported Increasing deal flow, rising property prices, and growing interest from serious buyers across all five major commercial real estate property sectors in the organization’s 1Q14 Quarterly Market Trends report, which features transactional and market data from members of the global affiliate of the National Association of Realtors®.
The rise in deal flow was greatest in the hospitality sector, with 80 percent of CCIM members reporting more transactions year over year in 1Q14, followed by retail (63 percent), industrial (60 percent), multifamily (58 percent), and office (55 percent).
With interest rates remaining favorable as 2014 progresses, the majority of CCIM members (56%) are optimistic that credit conditions will improve in the next 12 months, despite the 31% of CCIM members who reported improved credit availability in 1Q14.
Another positive indicator is the uptick in inquiries from potential buyers across all five property sectors. Approximately 62% of overall respondents reported increased buyer interest, while just 8% said they experienced an increase in clients wishing to sell assets during 1Q14.
Property prices continued to rise in several sectors, with 54% of members reporting price gains in the industrial sector, followed 51% who saw price gains in the multifamily sector. The office sector logged the smallest increase with just 39% of respondents reporting higher asset prices in their markets. In total, 45% of CCIM members said property prices rose across all five sectors YOY in 1Q14, while 31 percent reported flat prices.
The CCIM Institute surveys members on their market and transaction each quarter. Read the complete CCIM Institute 1Q14 QMT report at http://www.ccim.com/resources/first-quarter-2014-ccim-quarterly-market-trends and learn more about the CCIM Institute at www.ccim.com.