Commercial Real Estate Market Survey: August, 2009

Q2 2009 Survey Highlights

• Sales volume dropped 30 percent in the second quarter compared with a year ago.
• Sales prices declined 20 percent in the second quarter on a year-over-year basis.
• Cap rates rose on average 95 basis points from the same period a year ago.
• Average vacancy rates increased 9 percent from the first quarter of the year.
• Rental rates were down 11 percent compared with the previous quarter.
• Concession levels moved up 11 percent on a quarterly basis.
• Financing continues to top the list of most pressing current challenges.