Conn. commercial real estate dips in 4Q - Westfair Online

The commercial real estate industry has dropped in the fourth quarter of 2012. According to a statewide survey prepared by the Connecticut Business & Industry Association, along with the Connecticut Economic Resource Center and DataCore Partners, real estate conditions have improved since last year, but were impacted by ?a ?slowdown in the overall economic recovery? which resulted in a ?sense of uncertainty? among real estate investors.

The report pointed out that the effects of Hurricane Sandy had little impact on real estate activity. The economic problems at the root of the slowdown included disappointing employment numbers and rising unemployment that only fell slightly in the state last month to 8.8 percent.

Of the roughly 1,900 businesses that responded to the survey, only 25 percent said current conditions are ?good? or ?excellent,? while 58 percent polled in the investment sector expect the number of transactions to rise next quarter. Also, 63 percent of respondents expected sales prices to increase.

Source: http://westfaironline.com/51193/conn-commercial-real-estate-dips-in-4q/

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