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RCA CPPI Rises Again in November but Deal Momentum Falters
Commercial property prices continued to rise in November, with the RCA CPPI National All-Property Index increasing 1.6% from a year earlier, MSCI Real Assets said Thursday. However, price growth has been stalling in recent months, with apartment pricing retreating in November, and the annualized pace of growth from October suggested a gain of 0.1% overall.
With the exception of multifamily, the major property types saw annual pricing gains in November. For office, suburban assets experienced a 2.7% increase year-over-year, while CBD office pricing was down 1.9%. Industrial led with a 5.1% Y-O-Y increase, and retail posted a 2.4% annual increase but slipped 0.1% from October. Apartment prices were down 1.4% from a year earlier.
“Real estate investors have been cautiously optimistic in 2025, encouraged by a series of Federal Reserve rate cuts,” MSCI Real Assets said. Although deal volume for November was down from a year ago, investment activity year to date has eclipsed 2024, “and investors continue to be willing to pay higher prices for some sectors of the market.”
- ◦Sale/Acquisition
