Thursday, October 9, 2014

CoStar Group: Year-Over-Year Apartment Sales Tracking 35% Higher

With vast amounts of investor capital allocated to chase after all types of commercial real estate, especially multifamily and office assets, sales of U.S. commercial property are projected to total about $415.1 billion for the four-quarter period ending with the third quarter of 2014. That represents an increase of about 8% over the previous four-quarter period, according to early CoStar COMPs sales transaction data. 

The $19.7 billion and counting logged in the third quarter in legacy markets tracked by CoStar is 35.4% higher than the same period a year ago. Additional multifamily COMPs recorded by CoStar for the third quarter could raise that figure to nearly $23 billion.