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First Half 2010 Sales Volume July 9, 2010

Posted by Sean Tufts in Research/Data, Retail News.
Tags: , ,

Commerical sales volume for the first half of 2010 increased significantly from last year.  According to Bloomberg, sales are up 58% from the same period last year.  That is very optimistic news for us that make a living selling commercial real estate.  The only problem is that sales volume in the first half of 2009 was as close to zero as you can get.  We definitely started to see an increase in activity for retail in the Puget Sound towards the end of the first quarter and continue to see interest slowly ramp up.  There were still very few retail centers that sold in the first half but the trend is moving in the right direction and we anticipate a stronger second half of the year.

From Bloomberg: 

“Buyers and sellers completed $34.2 billion of deals through June, or 26 percent of the average first-half dollar volume since 2004, according to preliminary figures from Real Capital Analytics. The total was about 12 percent of the 2007 peak, when $277.7 billion of properties changed hands in the same period, data from the New York-based real estate research firm show.

Sales climbed 58 percent from last year’s first half, when purchases dried up after the U.S. credit crisis and recession sent values tumbling. A dearth of available properties has sparked demand for the few deals being offered, according to Alan Kava, co-head of Goldman Sachs Group Inc.’s Real Estate Principal Investment Area in New York.”

Complete article here.



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