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National  + Finance  |  July 20, 2023
Paul Bubny
By: Paul Bubny

Commercial Property Prices Fall 10.2% from a Year Ago

All the major U.S. property sectors posted annual declines in June as commercial property pricing continued to drop through the midpoint of 2023, MSCI Real Assets said Thursday. The RCA CPPI
National All-Property Index fell 10.2% from a year ago and 0.2% from May.

The apartment sector again saw the largest annual decline among the property types with an 11.7% drop, although the monthly rate of decline has eased through the first half of 2023. Apartment prices were unchanged in June compared to May; in December 2022 the index had fallen 2.3% from the prior month.

“Challenges with the cost of financing deals have weighed on deal activity and property pricing across property sectors,” according to MSCI. Deal volume in the second quarter of 2023 fell 63% from the year-ago period, as reported in the latest edition of US Capital Trends. 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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