Miscellaneous
US COMMERCIAL PROPERTY VALUES DECLINE FOR THE FIRST TIME SINCE 2010
TEN-X COMMERCIAL REAL ESTATE NOWCAST
(Source: Ten-X)
(Source: Ten-X)
TEN-X (formerly Auction.com), the nation's leading online real estate marketplace, has released its latest Ten-X Commercial Real Estate (CRE) Nowcast. The pricing index, which combines Google Trends data, Ten-X's proprietary transaction data and investor surveys to forecast CRE pricing trends in real time, reveals that commercial valuations in February decreased 26 basis points from January, a 0.3 % drop.
Office valuations dropped 270 basis points for the month, pulling year-over-year gains down to 3.3 % , a stark comparison from its late-2015 year-ago growth pace, which was topping 12 % . Hotel posted its fourth consecutive monthly drop, falling 133 basis points and lowering its annual gain to 5.2 % , the lowest it's been since summer 2014. Many of the largest US hotel markets are grappling with dual-headwinds of reduced foreign travel spending related to the strong US dollar and massive run-ups in their new construction pipelines. Airbnb is also garnering more mainstream attention and market share, and looks to challenge traditional hotel operators for the long-term.
Meanwhile, three property segments saw valuations increase in February.
Apartment valuations increased 109 basis points for the month, marking a 9.7 % year-over-year increase and its strongest monthly gain since last June. Retail, which is now showing consistent gains, rose 91 basis points, an annual increase of 10.2 % . Valuations in the industrial sector increased 93 basis points and reached an annual growth rate of 18.3 % due mainly to the positive impact e-retail has had on warehouse and storage space demand. However, Muoio noted that a short term slowdown is likely.
Source : Ten-X
Ruby BIRD
http://www.portfolio.uspa24.com/
Yasmina BEDDOU
http://www.yasmina-beddou.uspa24.com/
Apartment valuations increased 109 basis points for the month, marking a 9.7 % year-over-year increase and its strongest monthly gain since last June. Retail, which is now showing consistent gains, rose 91 basis points, an annual increase of 10.2 % . Valuations in the industrial sector increased 93 basis points and reached an annual growth rate of 18.3 % due mainly to the positive impact e-retail has had on warehouse and storage space demand. However, Muoio noted that a short term slowdown is likely.
Source : Ten-X
Ruby BIRD
http://www.portfolio.uspa24.com/
Yasmina BEDDOU
http://www.yasmina-beddou.uspa24.com/
Ruby Bird Yasmina Beddou Us Commercial Property Values Decline 2010 Ten X Commercial Real Estate Nowcast Lackluster Performance Office Hotel Segments Overall Valuations Drag Down
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