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Commercial Property Pricing Slips in October Amid Deal Slowdown 

U.S. commercial property prices fell in October from September, although they still increased from a year ago, MSCI Real Assets reported. The RCA CPPI National All-Property Index dropped 0.4% on a monthly basis, for an annualized decline of 4.5%. The annual change was a 7.3% increase.  

Pricing has come under pressure amid a spike in debt costs and a slowdown in deal activity in 2022. Sales volume fell at a double-digit rate in October, the third straight month of significant annual declines.  

Prices of apartment properties declined 0.6% from September and rose 11.3% from a year prior. Retail prices fell 0.3% from September and the annual pace of growth slowed to 8.2%. Both sectors reached record annual rates of price growth early in 2022.  

Industrial stood out with a 0.7% monthly gain and a 16.9% annual growth rate. Still, the annual pace has decelerated for seven consecutive months. CBD office, which declined 0.3% from September, rose 1.9% from a year ago, the smallest annual gain across the property types. 

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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 13-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 15-20 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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