Driven by improving market fundamentals, aggregate pricing for commercial properties continued to rise in June, according to the latest CoStar Commercial Repeat Sale Indices. The value-weighted U.S. Composite Index saw its highest quarterly increase since 2011 in 2Q13, jumping 5.9 percent. The equal-weighted U.S. Composite Index, which tracks smaller transactions, rose 9.1 percent –- a record increase.
Two segments within the equal-weighted U.S. Composite Index saw notable gains in 2Q13: Investment Grade (7.9 percent) and General Commercial (9.2 percent). The latter benefited from an uptick in secondary market investment activity.
The CCRSI Retail Index increased 16 percent year over year in 2Q13 thanks to a lack of new development and stronger consumer spending. The office and multifamily indexes rose 11.4 percent and 11.1 percent YOY respectively.
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