Commercial real estate market pricing improves | Commercial ...

Posted on: October 8th, 2012 by admin@cpp

The national commercial real estate experienced a significantly improved price situation during September compared to 12 months earlier, according to Lawrence Yun, chief economist for the National Association of Realtors. The continued improvements in real estate pricing at the national level may show that local areas, such as the Atlanta commercial real estate market, have also improved.

In September, the price of commercial properties was more than 6 percent above the same month last year, Yun explained in a blog post for Realtor.org. The gains bring the overall level of property prices to an area not seen since 2007, which was before the economic downturn.

Much of the reason for the gains was due to low interest rates, as well as an improving employment situation, he wrote. Many property investors took advantage of low interest rates, and this has helped them purchase properties when they would have usually been on the sidelines of the market.

Additionally, the apartment sector led the way in price gains, as it was 7 percent higher than the peak five years ago, Yun added. The office market had a price gain of 1.6 percent in September when compared to the same point in 2011.

If you own or are considering a commercial building purchase or lease, contact Daniel Levison or Furman Wood of Commercial Property Professionals. They can be reached at 404-848-1776.

Source: http://www.cpprofessionals.com/cre-news/commercial-real-estate-market-pricing-improves-32401

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