TEXAS (San Antonio Business Journal) – Annualized sales for commercial properties in Texas at the end of August 2008 showed a considerable drop from actual sales reported during the same period last year, according to a recent report by the Federal Reserve Bank of Dallas.
The report showed $14 billion in annualized sales as of the end of August 2008, compared with $31.6 billion in actual sales a year earlier.
The investment falloff in Texas has been felt in all types of commercial real estate, and the authors of the report said national economic woes will continue to weigh on investment activity.
However, they predict that the factors that brought investment money to the Lone Star State in the first place will bring investors back once the economy rebounds.
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