Hayes report: Half of 2009 sales on South Coast from four transactions
Hayes Commercial Group in Santa Barbara just released its year-end report, with some grim numbers that just go to prove 2009 is best left forgotten.
To its credit, the Hayes team found some unexpected countertrends and even signs of growth among the depressing stats, but the fact remains that real estate remained lackluster in 2009 because of “limited financing, perceived risk and the disconnect between buyers and sellers over the appropriate discount for said risk.”
Commercial sales activity swelled in 2009, but it was still dismal compared to years past. Sales were 58 percent below the annual average from 2004 to 2007.