Though only by a small margin, commercial real estate prices increased once again in November, marking the seventh consecutive month of gains and continuing to lead to steady interest in properties nationwide, CoStar Group reports.
Real estate records from the firm shows CRE prices jumped 0.6 percent on a monthly basis in November, led in part by the drop in distressed property sales, which fell to 25 percent of all CRE sales during the month.
Additionally, CoStar's General Commercial Index indicates a slight hike of 0.3 percent month-to-month, while the firm's Investment Grade Index rose 2.2 percent. The average size of a CRE sale in November was considerably higher - 15.8 percent - than the year before.
Another CRE report from Avison Young states that investment in office, retail and industrial properties in the U.S. was strong in 2011 and should remain historically high in 2012.
"The U.S. investment market witnessed strong demand and increased velocity in 2011 and, as in 2010, cross-border investors made significant investments in the U.S.," the report said.