Phoenix drops two spots in national commercial real estate sales ranking

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Posted at 8:54 AM, Sep 03, 2020
and last updated 2020-09-03 11:54:21-04

About $4.4 billion worth of commercial real estate assets in Phoenix were purchased in the first half of 2020, putting Phoenix ninth among large U.S. cities for real estate transaction volume.

According to a study done by Real Capital Analytics, which tracked sales worth more than $2.5 million, Phoenix dropped two places from the same time last year and saw a decrease of 34% in volume from the first half of 2019.

Of all 25 major markets studied, only Raleigh/Durham saw an increase in the value of real estate sales in 2020.

The market, which ranked 23rd on the list for 2020, saw a 15% increase from the same time in 2019.

Read more from the Phoenix Business Journal.