Maybe the uncertainty that seemed to permeate 2012 wasn’t all that pervasive after all. Investment sales posted gains throughout the year, in figures just released by Real Capital Analytics, with November alone showing a 40% hike year over year. November volume hit $19.5 billion, bringing the year-to-date total to $225 billion.
What’s more, with December not yet officially tallied, RCA expects 2012 to show a slight increase over 2011’s activity, which the data firm put at $229 billion. “With the expected surge in December, full-year 2012 volume should reach $260 billion,” the firm projected. All in all, it's a good if not stellar way to kick into the new year.
But an anomaly remains, in that this will be the first year in more than a decade, according to RCA, when multifamily will replace office as the top investment sector. No surprise there, really, given the bulletproof stability of the apartment market and the office sector’s entrenched status as poster child for the recession. Multifamily logged $75 billion in sales volume this year.
Read more...Investment Sales Bode Well for 2013 - Daily News Article - GlobeSt.com
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