Annual commercial real estate pricing fell to a new low in December, according to the newest CRE Nowcast monthly pricing index by online commercial real estate marketplace Ten-X Commercial. Commercial pricing fell by 0.3% from November, marking the eighth consecutive month of decline and the lowest pricing-point growth in this cycle. The pricing gauge is now just 1.0% higher than it was one year ago.
“Despite positive economic news and a new tax law that should benefit CRE, investor sentiment has been quite weak, leading to a startling eighth straight month of pricing contraction for the sector,” says Peter Muoio, chief economist at Ten-X.
Read more...Property Pricing Declines for 8th Consecutive Month in Ten-X CRE 'Nowcast' | Multifamily Executive Magazine