October was one other unhealthy months for CRE gross sales. November’s CoStar Worth-Weighted U.S. Composite Index — large property gross sales in massive metro areas — with information by means of October, was down 1.4% over September. The quantity was additionally down 8.7% 12 months over 12 months.
“In the meantime, the Equal-Weighted U.S. Composite Index, which exhibits the extra quite a few, lower-priced property offers extra widespread in smaller markets, posted its largest month-to-month decline because the Federal Reserve started rising its coverage price in March 2022. The index slid 1.4% in October and was virtually flat in comparison with October 2022, rising 0.2% over the prior 12 months.
