U.S. transaction volume increases by 13 percent in second quarter
The office and hotel sectors posted the biggest gains in transaction volume in the second quarter, according to Real Capital Analytics (RCA), which has released its 2013 midyear review of the U.S. commercial real estate market.
In the second quarter, sales of significant commercial properties increased by 13 percent year-over-year, with a total transaction volume in the United States of $71 billion. While the office and hotel sectors led the pack, industrial and retail also saw increases in transaction volume this quarter. The apartment sector had a 7 percent decline in transaction volume year-over-year, its first quarterly decline after 13 consecutive quarters of gains in the double digits, according to RCA.
The total volume in the first half of 2013 is 24 percent ahead of the previous year’s pace at more than $145.3 billion. Office volume in the first half of the year totaled $38.4 bil