Reflecting Broad Recovery in Market Fundamentals and Pricing, Equal-Weighted CCRSI Index Posts Strongest Year-Over-Year Gain Since Beginning of Recovery
WASHINGTON, April 16, 2014 (GLOBE NEWSWIRE) — This month’s CoStar Commercial Repeat Sale Indices (CCRSI) provide the market’s first look at February 2014 commercial real estate pricing. Based on 1,028 repeat sales in February 2014 and more than 125,000 repeat sales since 1996, the CCRSI offers the broadest measure of commercial real estate repeat sales activity.
FEBRUARY 2014 CCRSI National Results Highlights
- COMMERCIAL REAL ESTATE PRICES REGISTER BROAD GAINS IN FEBRUARY: The two broadest measures of aggregate pricing for commercial properties within the CCRSI—the value-weighted U.S. Composite Index and the equal-weighted U.S. Composite Index—gained 1.1% and 1.7%, respectively, in February 2014. Both reached double-digit growth over the previous 12-month period as the pricing recovery extended to smaller markets and secondary property types.
- VALUE-WEIGHTED U.S. COMPOSITE INDEX HAS RECOVERED TO WITHIN 5% OF ITS PRE-RECESSION PEAK: The value-weighted U.S. Composite Index is more heavily influenced by high-value trades, where pricing has skyrocketed over the last two years. As a result, this CCRSI index has reached levels not seen since early 2008. Meanwhile, the equal-weighted U.S. Composite Index, which is more heavily influenced by lower-value trades, remained 22.3% below its prior peak.