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A New Sales Record Has Been Achieved By The Jackie Goodlet Team Who Work Out Of The Whitby Office And Specializes In High End Resale And New Home Sales. According To Broker Dave Pearce The Jackie Goodlet Team Wrote More Transactions Than Anyone Else In The 30 Year History Of Our Firm. Their 255 Transactions Had A Total Volume Of More Than $185,000,000 (185 Million). With Over 25 Years Experience In The Business The Jackie Goodlet Team Has Acquired A Wealth Of Knowledge In All Areas Of Real Estate Including Resale, New Builds, Cottages, Lease, Condos, Vacant Land, Investment And Commercial Properties. With Exceptional Negotiating Skills We Are Confident We Can Save You Time And Money On All Your Real Estate Endeavours. We Look Forward To Hearing From You And Your Referrals Are Always Welcome And Rewarded!

Wednesday, July 1, 2020

Commercial real estate deals tumble to 10-year low

The U.S. commercial property market froze up during the pandemic.

The volume of deals for properties including offices and hotels plummeted 79% in May compared with a year earlier, according to Real Capital Analytics Inc.

Transactions fell to $9.8 billion, an 11% drop from a month earlier and the lowest for May since 2010, according to the report released on Wednesday by the New York-based firm.

“Investor uncertainty continues to mount as it remains unclear the extent to which Covid-19 will impact the broader economy and sap business demand for commercial property,” Senior Vice President Jim Costello said in the report. “For now, despite the availability of dry powder, many investors are choosing to stay on the sidelines.”

Deals to purchase hotels plunged 95% in May, the largest drop of any property type. Retail property transactions were down 83%.

MPA

We hope you are finding our Blog informative and enjoyable to read while keeping you up to date with the ever changing real estate market.

Please feel free to contact me via Direct/Text or e-mail at any time and my team will be pleased to assist you, family members and friends with all your real estate needs. Referrals are always welcome and rewarded!

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