National spending on distressed commercial properties reaches $181 billion

According to a recent report from Delta Associates and Real Capital Analytics, the commercial sector of the national real estate market continues to benefit from distressed properties.

The company's report revealed that spending on foreclosed commercial properties during June 2011 totaled $181.1 billion, which was a half billion more than April's final figure.

Since the recession began, distressed property sales have fluctuated. Distressed volume appeared to have leveled off in March 2010, however, since then it has fluctuated even more, peaking at $191.5 billion and declining to $175 billion.

The office sector had the most distressed property sales during the month, accounting for $43.4 billion, the report stated. Apartments placed second, representing $36 billion, followed by hotels with $34.9 billion.

Distressed commercial real estate sales are becoming popular in areas with growing job sectors, such as Houston. Despite some major companies shutting down, the region is looking to add many more jobs in the oil industry.

Overall, Texas has added far more jobs than any other state during the last couple years, according to recent reports. Thus, the commercial market for Dallas and Houston properties has increased lately.

Courtesy of 2M Realty News