News & Events

Real Estate Pros more pessimistic about economic recovery

Real estate professionals are less confident the industry will improve in 2010.

A quarterly survey by LoopNet Inc. (NASDAQ: LOOP) found only 50 percent of respondents expect the volume of commercial real estate transactions to rebound in 2010. In July, 66 percent expected a 2010 recovery.

The survey was conducted with more than 1,000 real estate brokers, investors and owners and was conducted in late October.

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Commercial Real Estate Drop Accelerates

Commercial real estate values around the country have dropped 35 percent from their peak in October 2007, according to Moody’s REAL Commercial Property Price Indices.

The decline appears to be accelerating as the index dropped more than 15 percent during April and May. Transactional volume also fell along with value, which is showing signs of effects from distressed sales.

“May marked a new low for both counts,” the report said.

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