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Calculated Risk | April 16 2011 9:15 EDT
From CoStar: CoStar Pricing Performance Varies Significantly Between Different Regions and Property Types
• The Composite Index, which is an equal-weighted analysis repeat sale pricing index incorporating both the Investment Grade and General Grade indices and a reflection of the broad overall market, posted a slight increase in property value for the month of February of 0.6%, reflecting the strong monthly increase in the General Grade repeat sale index. The Composite Index is down 7.5% year over year. [this is off 30.5 from the peak in August 2007]
• At the national level, CoStar’s Investment Grade Commercial Repeat-Sale Index is up 6.8% compared with the same period last year, even after four consecutive months of declines, including a very slight 0.3% decline in February. [this is off 34.8% from the peak in June 2007]
• CoStar’s General Grade Index is down 10.9% compared with the same period last year, although this pricing index has trended upward recently, posting two consecutive months of increases, including a strong 0.8% increase from January to February. [this is off 29.0% from the peak in June 2007]
Click on graph for larger image in new window.• Multifamily pricing in the Northeast at the end of 2010 stood within 4.8% of its peak level according to CoStar’s Northeast Multifamily pricing index.With apartment vacancy rates falling rapidly, and rents rising, it is no surprise that multifamily is the best performing property type.
• At the other end of the spectrum, CoStar’s West Office pricing index remains 43% below its peak-pricing level.
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Company : Calculated Risk
Website : http://www.calculatedriskblog.com/
About :
Bill McBride (author since Jan 2005), A full time blogger, Mr. McBride retired as a senior executive from a small public company in the '90s. Mr. McBride holds an MBA from the University of California, Irvine, and has a background in management, finance and economics.