By Jim Costello on June 15th, 2016
Transaction volume fell in May with preliminary figures suggesting a 38% YOY decline in sales. There will be revisions to this data by next week, but likely only on the order of 2% to 3%.
There is a glimmer of light in the office sector with deal volume up 2% from last year on sales of $10.1 billion. The lack of portfolio and entity-level deals for this sector in May 2015 makes the hurdle from last year easier to overcome. By contrast, deal volume in the industrial sector was down 66% YOY in May, but nearly two thirds of activity in May last year was tied up in such megadeals.
Next week Real Capital Analytics publishes its US Capital Trends reports for May. The Big Picture report will discuss the macroeconomic and global issues weighing down the market.