May 2013 NAR Commercial Real Estate Market Survey Released
The REALTORS® Commercial Real Estate Market Survey measures quarterly activity in the commercial real estate markets. The survey collects data from REALTORS® who are commercial practitioners. The survey is designed to provide an overview of market performance, sales and rental transactions, along with current economic challenges and future expectations.
2013.Q1 Survey Highlights:
- REALTOR® commercial markets recorded improved conditions for both sales and leasing.
- Sixty-four percent of commercial REALTORS® closed a sales transaction during the quarter.
- Sales volume rose 3.0 percent from a year ago.
- Sales prices inched up 0.3 percent on a year-over-year basis.
- Leasing activity advanced 5.0 percent from the previous quarter.
- Rental rates increased 1.0 percent compared with the previous quarter.
- Concession levels declined 5.0 percent on a quarterly basis.
- Financing remains at the top of the current challenges list, followed by pricing gap between buyers and sellers.
- The estimated average transaction slid from $1.2 million to $1.1 million from the prior quarter.
View the entire report on REALTOR.org