Retail and Multifamily Deals Catch Up With Office and Hospitality, CoStar Data Shows
Sales of distressed property in the first quarter of 2024 made up a higher percentage of transactions than at any time during the past 10 years.
The percentage of distressed property sales — a designation that typically applies to real estate when money is owed that can’t be repaid — increased from an average of 6% in 2023 to 6.7% in the first quarter, according to CoStar data. The multifamily percentage in the first quarter was more than double the average for last year. Retail also saw a sharp increase, from 4.1% for all of last year, to 6.3% in the first quarter.
Distressed hospitality and office deals still account for their highest percentages since 2020 when the nation fought to contain the COVID-19 pandemic...
The percentage of distressed property sales — a designation that typically applies to real estate when money is owed that can’t be repaid — increased from an average of 6% in 2023 to 6.7% in the first quarter, according to CoStar data. The multifamily percentage in the first quarter was more than double the average for last year. Retail also saw a sharp increase, from 4.1% for all of last year, to 6.3% in the first quarter.
Distressed hospitality and office deals still account for their highest percentages since 2020 when the nation fought to contain the COVID-19 pandemic...
RSK: Interesting graphic. You can bet office will lead the way in the next few years.
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- - Volume: 24 - WEEK: 17 Date: 4/24/2024 12:08:48 PM -