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Property Pricing Declines for Fifth Consecutive Month

The commercial real estate sector continued its slump in September, with nationwide commercial pricing edging down by 0.1%. It is the fifth consecutive month of contraction for the index, according to Ten-X’s latest CRE Nowcast.

Ten-X Chief Economist Peter Muoio says the, “…decline in September indicates the market has again failed to shake off its malaise, as a murky business cycle prognosis and tightening monetary policy continue to take their toll.”

The nowcast’s annual growth rate is at its lowest level since Ten-X introduced the index, and several CRE sectors are in similar slowdowns. While there is something of a varied picture across the five CRE segments, there is “no denying the overall softening of commercial real estate pricing,” points out Muoio.

With this ongoing softness in the market, pricing across CRE is just 4.4% higher than its year-ago level. Noteworthy during September was the weakness of the apartment sector, which declined by 0.3%, the segment’s third straight monthly decline after a strong run-up earlier this year.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.