Commercial property pricing improves in March, says CoStar

A recent report from CoStar showed that property management companies may have seen some amount of price recovery during the start of the year, even though there have been seasonal issues.

A recent report from CoStar showed that property management companies may have seen some amount of price recovery during the start of the year, even though there have been seasonal issues.

Overall, the report explained that prices are now at the point where they were during the summer of 2003. The U.S. Composite Index was 4.3 percent higher at the end of the first quarter than it was during the same point in 2011. However, price levels for commercial properties are still more than 34 percent lower than what was recorded in 2007.

The report noted that overall property distress levels have fallen, which may signal that the market is improving. During March, fewer than 24 percent of all transactions were considered distressed, which is far lower than the previous three years, which had a level of 28.6 percent.

Due to some economic issues in recent years, there has been a slump during the first part of the year, the report added. However, this is not unexpected and isn't likely to make a significant difference in the long-run. 

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