U.S. commercial real estate activity rose in March compared to a year ago, with deal volume increases seen for most of the major property sectors, the latest edition of US Capital Trends shows. For the first quarter in total, deal activity dropped by nearly 30% compared to Q1 2020.
March deal volume increased 11% versus March 2020 when the Covid crisis first erupted and cracks started to show in U.S. deal activity. Sales of office, industrial and apartment properties all grew. Deal activity in the hotel sector spiked higher, though this was due to one large portfolio of nearly 200 properties.
The industrial sector continues to shine. Sales of individual properties reached $14.4 billion in Q1 2021, a record high level for a first quarter. Construction of industrial properties expanded in the majority of top U.S. markets during the past four quarters, with Dallas at the forefront. Industrial construction starts increased 67% year-over-year in Dallas, and it was also the leading market for apartment construction during the Covid era so far, US Capital Trends shows.
To learn more about the data behind this article and what Real Capital Analytics has to offer, visit https://www.rcanalytics.com/.
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