Apartments once again fared best for monthly pricing growth in Ten-X’s latest Commercial Real Estate Nowcast, which showed industrywide gains of 0.2% for the month of February. The monthly pricing index indicates modest growth over the past month after remaining flat in January.
Although February’s pricing index reflects a year-over-year increase of 8.5%, that reflects a slower pace of growth than what the industry saw for much of 2016. “After a lengthy period of robust growth, pricing across commercial real estate has entered a period of lethargy during the past three months,” says Peter Muoio, chief economist with Ten-X. “While property valuations did tick up slightly, even the standout apartment market has begun to show signs of weakening in major cities, where a huge infusion of supply appears to have finally caught up with demand.”
Read more...Multifamily Pricing Fares Best in Slow-Growth Month | GlobeSt.com
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