The Real Deal Miami

Commercial sales to hit lowest level in 18 years

September 11, 2009 09:12AM

Commercial property sales in the U.S. this year are likely to fall to their lowest level in 18 years, according to research firm Real Capital Analytics. About $16 billion worth of commercial transactions will occur this year, the lowest volume since at least 1991, said Dan Fasulo, managing director at Real Capital Analytics, and Sam Chandan, chief economist of Real Estate Econometrics. The commercial mortgage default rate more than doubled in the second quarter, hitting 2.88 percent, and could hit 4.1 percent, the highest level since 1993, by the end of this year.