Retail Property Sales Dropped Significantly in Q2 2018
A Special Q2 Retail Investment Report
Puget Sound property sales for retail properties decreased nearly 71% quarter over quarter to $206.6 million, the lowest total sales volume recorded since Q3 2016. This is largely due to insecurity in the market, as many retailers struggled to stay afloat with the emergence of e-commerce. The period got off to a slow start, as only six properties worth $21.0 million changed hands in April. In May, there were 10 properties sold for $78.4 million, followed by 12 locations purchased for $107.2 million in June.
The U.S. stock market saw an overall increase for the quarter, benefiting from strong tech performance and avoiding major swings caused by tariff legislation. The Russell 2000 saw the biggest gain among all tickers, returning 7.5%. Other major stock results included the following: the Nasdaq went up 6.3%, the Wilshire 5000 by 3.8%, the S&P 500 by 2.9%, and the Dow Jones by 0.7%.