Research
Featured topics:
- Commercial Property Prices
- Industrial Forecast: NAIOP
- Industrial: Yardi Matrix
- NMHC Construction Survey
- Inflation
- Private REITs
- Apartment Investment Market Index
- New York Office Demand
- Weekly Jobless Claims
- Google Purchase
According to the Real Capital Analytics commercial property price index (CPPI), asset prices accelerated through August, growing an average of 1.5% from a month earlier. Moreover, the national all-property type CPPI is up a robust 13.5% year-over-year, marking the fastest annual growth since January 2006.
Apartment assets continue to lead the way, notching the highest annual growth rate of the four major commercial property types. The apartment CPPI grew 1.6% month-over-month and 14.7% year-over-year through August.
Retail assets posted the best month-over-month growth rate of the core-four property types, gaining 1.9% between July and August. Measured year-over-year retail prices are up by 12.1%.
Industrial assets continue to plot a robust and consistent growth path, growing 1.3% and 13.6% month-over-month and year-over-year, respectively.
Overall, office price growth is the laggard of the pack. Month-over-month prices grew by 1.3%, and the year-over-year tally sits at 11.2%. Trends are divergent between different office subtypes. Central business district located office assets have yet to establish any positive momentum, continuing to post both month-over-month (-0.05%) and year-over-year (-3.7%) declines. Meanwhile, suburban office price growth has remained resurgent, growing 1.6% from a month earlier and 14.8% from last year.
