Total commercial property transactions jumped after last month’s drop; multifamily transactions vaulted even as all other sectors declined. Buyer appetite showed overall strength with prices at or near postrecession highs, CMBS issuance close to recent monthly highs, and cap rates remaining low and stable. Permits and starts of all types of housing continue to climb. Prices of new single-family homes are just shy of all-time highs and condominium price increases were strong. The stall in employment growth and decline in unemployment raise many questions.

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After four years, this will be the final installment of the ULI Real Estate Business Barometer. If you have any suggestions, questions, or concerns, feel free to email [email protected].