How Has the Lockdown Impacted Commercial Real Estate Sales and Prices?
July 6, 2020 | Calvin Schnure | Nareit
Commercial real estate markets have been in lockdown along with the rest of the country. The most visible sign of this lockdown is the collapse of sales transactions, which fell sharply as social distancing rules went into effect. Total sales transactions in May were down 55% from their pace last December, after adjusting for normal seasonal variations.
The decline in sales was greatest in hotels, down 85% from December, and least among office properties, down 41% over this period. Apartment, retail and industrial property markets saw sales decline 50% to 60%.
