U.S. investment sales transaction volume plummets 70% in Q1

First-quarter sales volume dropped 70 percent year-over-year across all four of the core sectors — office, industrial, apartments and retail — as property values continue to erode, according to Green Street’s data in its report entitled Property Insights: Quarterly Transaction Trends.

“Investment volumes of closed transactions indicate overall market health and shine a light on the direction of property prices. Transaction volumes tend to be robust as prices increase and tend to slow down dramatically when buyers and sellers reach a stalemate amid rapidly declining property values,” said Daniel Ismail, managing director and co-head of strategic research for Green Street.

“Total commercial real estate transaction volume is down from the pace set in 2022 and, if trends continue, set to be well below the most relevant historical timeframes. The confluence of higher interest rates, higher spreads, fewer willing lenders and an even thinner group of will