Investor Unease Sends Commercial Real Estate Market Down
Home Prices in Some Parts of County Still Zipping Up
June 28 2008 - A recent investor survey by PricewaterhouseCoopers finds that the commercial real estate market, once a bright spot in the economy, is dimming.
Sales volume and prices, as well as tenant occupancy and rental rates, are down in the second quarter and aren’t expected to immediately recover due to tighter credit and investor uncertainty about the direction of the economy, according to the Korpacz Real Estate Investor Survey.
“The pricing gap that resulted after the credit markets tightened has been further widened as a result of most real estate investors now taking a back-to-basics approach and being more conservative than sellers in their underwriting,” said Tim Conlon, partner and U.S. real estate sector leader for PricewaterhouseCoopers.
Investor Unease Sends Commercial Real Estate Market Down
by NED RANDOLPH | San Diego Business Journal