By Jim Costello on July 15th, 2016
Preliminary figures suggest that overall deal activity in Q2’16 was down 20% YOY, similar to the declines posted in Q1’16. However, the decline for individual properties was less than half that in the past quarter and year-to-date, and for the month of June sales reached the highest level this year. Also, preliminary estimates for the Moody’s/RCA CPPI suggest that prices began to climb again in Q2’16 after a bit of a pause in Q1’16.
While the volume declines are relatively broad-based, CBD office posted a gain in Q2’16 and the apartment sector is up slightly for H1’16. Acquisitions by institutional investors also bucked the trend and rose 10% in H1’16.
On July 21 we will publish our US Capital Trends reports with a full analysis of the past quarter and midyear results.