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Green Street: U.S. Property Prices Up Nearly 5% Year-Over-Year
The Green Street Commercial Property Price Index was unchanged in December, the Newport Beach, CA-based research and advisory firm announced. The all-property index increased 4.8% over the course of 2024 while remaining down 17.8% from the index’s peak in 2022.
“Property prices increased about 5% last year,” said Peter Rothemund, co-head of strategic research at Green Street. “The outlook for this year is not as bright. The run-up in Treasury yields over the past few months is likely to cause property prices to stagnate.”
Compared to the 2022 peak, pricing in all property types is down, and all but mall properties are down by double-digit amounts. On a year-over-year basis, the picture is more mixed. The strongest Y-O-Y gains in pricing have occurred in the apartment and mall sectors, at 14% and 17%, respectively.
Although office is one of three property types in which prices are down from a year ago, it has posted slightly better performance than either self-storage or lodging, according to Green Street data.
Pictured: Green Street headquarters in Newport Beach, CA.
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