“Following a remarkably high-volume year in 2019, South Coast commercial real estate activity got off to a slow start at the beginning of the year and then hit a wall as the effects of the worldwide coronavirus pandemic seized the local economy.
There was not a “coronavirus effect” on sales during Q1, in which each month produced less volume than the previous. In fact, sales activity was sluggish through all three months. Q1 dollar volume, $38 million, was the lowest single-quarter total since 2011, and 63% below the average of the prior five Q1s. Sales transactions were also far below trend, 37% under the prior 5-year average.”
What are expert economists saying? What will the economy look like in 12 months? In 24 months?
2020 Q1 summarizes the South Coast market activity and the effects and implications of the coronavirus pandemic.
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