RCA: Property Pricing Posts Fastest Annual Growth on Record
The headline rate of U.S. property price growth climbed to the fastest annual rate in the history of the RCA CPPI in October amid intense investor demand, Real Capital Analytics reported. The RCA CPPI National All-Property Index rose 15.9% from a year ago and 1.7% from September.
Year to date through Oct. 31, investors acquired $523.8 billion of commercial property assets, a 70% increase over the same period in 2020. Investors spent more than $200 billion on apartment properties in the first 10 months of 2021, almost double the year-to-date activity in 2020, and more than $100 billion on industrial properties.
Industrial prices rose 18.9% in October from a year ago and 1.9% from September, the fastest annual and monthly rates among the major property sectors. The apartment index climbed 16.8% from a year ago, the fastest rate in the history of the RCA CPPI for this sector.
Pictured: Harvill Logistics Center in California’s Inland Empire, which Rockefeller Group traded for $57.5 million in September.
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).